Revenue upswing translates to raises for Tyrone employees
When it comes to a municipal budget, the outlook for Tyrone’s general fund could hardly be better. The 2014-2015 proposed budget includes $3.49 million in revenues and $3.12 million in expenses along with the first cost-of-living increases for town staff in years and a steady millage rate.
General fund revenues for the year beginning July 1 are tallied at $3,489,723 while expenses are projected at $3,118,017, a difference of $371,706 to the good.
Aside from revenues over expenses, the proposed budget also provides for a cost-of-living increase for town employees, the first such increase in several years, said Town Manager Kyle Hood.
Beyond the budget numbers, Hood said the millage rate is projected to remain steady at 2.889 mills. It is the same millage rate Tyrone has maintained for at least seven years.
In terms of financial management, Hood said the town’s residents and businesses can be assured that Tyrone is a regional “best.”
The Tyrone Town Council will hold a public hearing on the budget on June 5 and again on June 19. The vote to adopt the budget will follow the June 19 public hearing.