Princeton City Council approved the proposed Fiscal Year 2022 Budget and Pay Plan on first reading at Monday night’s meeting.
Mayor Kota Young presented the proposed budget of $7.16 million based upon projected government-wide revenues and expenditures. He said with the current fiscal year’s financial outlook coming on the heels of consecutive six-figure surpluses in the first two budget years of this administration, the City’s general fund cash balance has seen tremendous growth. He added although the financing level proposed in the upcoming budget could be covered by drawing directly from the City’s cash on hand and leaving a robust, multi-million dollar reserve moving forward, Mayor Young proposed financing is the way to go.
click to download audioIn addition, Mayor Young said multiple grant opportunities have also been pursued to help partially offset the costs of these new asset purchases.
The proposed 2022 budget also includes an investment in street paving and other infrastructure.
click to download audioAnd the budget includes proposed adjustments to the City’s pay scale.
click to download audioIn addition, the budget also continues economic development efforts.
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Mayor Young said this was the third budget he has presented to this Council and he believes it moves the City closer to its goal.
click to download audioThe Fiscal Year 2022 budget was approved by a 5-0 vote with Councilman Carl Copeland absent from the meeting. The second reading of the budget will be at the next City Council meeting.
Council also unanimously approved an Audit presented by Certified Public Accountant Jessica Daniel of Eddyville. Daniel said there was only one finding noted which was segregation of duties.
click to download audioThe next Princeton City Council meeting will be Monday afternoon, June 21, at 5:00.
