The Bruce Board of Aldermen are preparing to move forward with a deficit budget of $136,393 for the next fiscal year.
Bruce Mayor Rudy Pope
The proposed deficit was $14,000 higher than last year’s deficit budget. Mayor Rudy Pope said the town does have money in the bank to cover the deficit if it holds.
“We’re very fortunate to have money in the bank we can utilize for this and for matching money for grants.”
The town recently moved an almost $1 million CD to Calhoun Banking Center to take advantage of a higher interest rate.
The deficit budget does include more than $50,000 in pay increases for town employees. Those raises do not include the mayor or aldermen.
“We’re doing well,” Mayor Pope said. “We haven’t had to raise taxes at all.”
Clerk Rita Talford pointed out that Bruce sales taxes continue to outperform estimates. She said the last fiscal year’s sales tax revenue generated $50,000 more than was budgeted.
Talford also noted that most departments don’t spend their budgets down to zero, so there is routinely money left in budget at end of year to offset the deficit.