Toone passes budget on first reading

The Toone Board of Mayor and Aldermen passed the 2015-2016 budget on first reading during their regular board meeting on Tuesday, July 14 at the Toone City Hall.
According to the ordinance, which was passed unanimously, the city is expecting a total of $356,480 in revenues, while expecting to spend a total of $353,640 during the fiscal year, which began July 1, 2015, and goes through June 30, 2016. The budget as adopted would leave the town with $2,850 left over of the end of the fiscal year.
The largest slice of the budget is for the water and sewage fund, which has a projected revenue of $174,750, and projected expenditures of $172,634. The second largest slice of the budget is for the general fund, with $142,330 in projected revenues, and $142,240 in projected expenditures. The two items in the general fund with the largest budget are the police department with $49,910, and the fire department with $27,200. The other two areas of the budget are much smaller. The state street aid and projected revenues of $35,100 and projected expenditures of $34,781, while the drug fund has projected revenues of  $4,300, and projected expenditures of $3,975.

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