Montevallo approves budget with grants
The city of Montevallo has approved a nearly $2.8 million budget including $90,000 for a new fire station, $200,000 for a Highway 119 sewer extension, $50,000 for a senior center grant match,
$50,000 for a sidewalk grant match and $12,500 for a trial grant match.
The City Council approved a fiscal year 2003 budget that only exceeds last year’s budget by $20,250 in both revenues and expenses and which balances to the penny.
It includes $2,971,000 in projected revenues and $2,791,000 in projected expenses.
Last year’s budget projected $2,770,750 in revenues and $2,770,750 in expenses.
Among the most notable declines in revenues are franchise revenues down $28,600, interest income down $10,000 and sales tax and sales tax additional down a total of $42,000.
Among the most notable gains were fines and costs up $35,500, privilege license up $10,800, property tax up $16,000, lot sales up $17,000 and financial institution excise taxes up $11,500.
At its Oct. 14 meeting, the council voted to rezone one acre of property from single family residential to neighborhood conservation to accommodate a smaller lot size for a house. The property is owned by Takisha Motley