With no tax or utility rate hikes, the city of Commerce expects to spend $24.9 million from July 1 through June 30, 2014.
At least that’s the plan. The Commerce City Council adopted the 2013-14 spending plan Monday night without dissent. The budget represents a 2.5-percent reduction over the current budget of $25.54 million, but a 3.5-percent ($860,155) increase over projected actual spending for the current fiscal year.
That’s the nature of budgets — they’re plans subject to change during the year for any number of reasons.
The bulk of the money — more than $14.4 million – will come in and go out through its utility departments for the production and sale of water and sewer services ($4.25 million), electricity ($6.66 million) and natural gas ($3.74 million).
The General Fund budget is just shy of $6 million. That’s up about $138,000 over projected actual spending this fiscal year, but down by $277,666 over the current budget. The General Fund gets its revenue from taxes, fees, fines, permits, grants and transfers from the utility funds. It, in turn, funds most city activities — the mayor and council, police, fire department public works, recreation, the garage, library, planning and development, Downtown Development Authority, civic center, administration and finance.
For the full story, see the June 19 edition of The Commerce News.