The Town of Hornbeck’s amended budget for Fiscal 2016-17 shows a net loss in the Utility Fund, but the deficit is attributable to one-time capital spending.
The budget, required by law to be amended with actual figures as the fiscal year draws to a close, will be reviewed at a public hearing on Oct. 2. The amended plan was introduced at Tuesday night’s board of aldermen meeting.
According to the proposal, the Utility Fund will have revenue of $2.76 million and expenditures of $2.83 million. Non-operating project spending totaled $2.1 million and one-time capital revenue was around $1.8 million. Backing all those numbers out would show the fund with an operating profit.
The three departments composing the Utility Fund are Gas, Water and Sewer. Each is expected to have operating profit margins at the year’s end with Gas about $19,000 in the black, Water at $75,000 and Sewer about $3,000.
Gas Department wages are $66,000; Water wages will be $142,000 and Sewer wages are expected to be $11,000. Town payments to retirement plans for workers in the three total $44,000.
The town’s adjusted Sales Tax Fund revenue is $90,000 with expenses at $57,000. Maintenance and street repairs, including North Brush Creek ($25,000), will total $35,000 and street lights are another $15,000.
General Fund revenue amounts to $122,000, with expenses at $126,000. Expenses include $19,000 for the police department. Police revenue is $8,700.
Mayor and aldermen expense is $63,600, and retirement contributions are $16,000.
Police payroll is $6,000, with retirement contributions of $450.