City’s budget tally virtually unchanged from last year
It was almost the same budget.
Warren City Council adopted a budget last week that was almost identical to the proposed budget presented for public review, but there were some minor adjustments as a result of updated figures.
The city received an update of where its minimum municipal obligation (MMO) for pension contributions stands. The MMO is the minimum a municipality is required to pay toward funding pension obligations in a given year.
The final MMO for 2014 came in $33,590 under what had been budgeted.
The city’s total budgeted pension obligation for 2014, after the adjustment, is $674,591 for the city’s three pension plans.
Meanwhile, health care premium costs came in $9,560 higher than expected.
The total budgeted for health care is $1,035,557, spread across the general, sewer and parking funds.
A portion of the difference between the budgeted and actual MMO was used to offset the premium increase. The difference between the un-needed funds budgeted towards pensions and the funds used to offset premiums $24,030 was taken out of the budget.
As a result, the city’s general fund budget for 2014 totals $8,276,194, or $24,030 less than the proposed $8,300,224 originally presented.
Meanwhile, the city parking fund budget’s capital expenditures were increased from approximately $20,000 to approximately $82,000, a difference of $62,000.
The increase reflects funding for parking equipment and results in a total parking fund budget of $477,015, an increase of $62,005 from the originally presented $415,010.
The final approved sewer fund budget totaled $1,517,778, an increase of $2,274 from the $1,511,504 budget originally presented.
The capital improvement program fund budget remained the same as initially presented at a total of $4,949,500.