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City Council passes budget in first reading

Published: 9:28 AM, 08/29/2013
 

Author: Nelson Morais
Source: The Newport Plain Talk

NEWPORT-The property tax rate will remain the same this fiscal year, according to a 2013-2014 budget that the Newport City Council approved in a first reading on Tuesday, Aug. 27.

The property tax rate will remain at $1.74 per assessed $100. Finchum said it has remained at that rate for 12 years.

"I don't think there's an ounce of fat in this budget. It's a tight budget," said interim city administrator James Finchum at a workshop preceding a called meeting that City Council members attended.

The 2013-2014 fiscal year budget projects $10,222,508 in total revenue, and $10,215,879 in expenditures, which would result in unappropriated discretionary funds of $6,626, according to the budget presented to City Council.

For more details, please see the Thursday edition of the Newport Plain Talk.

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