Budget FY 2004 The Town of Mtn. Lake Park

Revised July 22, 2003

Leo Martin, Mayor

Fred Callis, Council Vice President

Patrick Damon, Councilperson

Linda Fike, Councilperson

Fred Learey, Councilperson

Donald Sincell, Councilperson

Jeff Meyers, Supervisor of Maintenance

Judy Paugh, Town Clerk/Treasurer

Table of Contents

Topic Page

Budget Highlights 3

General Fund Budget 4

Highway Fund Budget 7

Sewer Fund Budget 8

Garbage Fund Budget 9

Paving Proposal for FY 2004 10

Sewer Rehabilitation Project 11

Budget Highlights FY 2004 Taxes and Service Charges

1. Real estate taxes will be increased by .05 cents. The tax rate will be .33 cents.

2. Personal property taxes will remain at .62.

3. In-town and out of town sewer rates will be increased by 15%.

4. There will be no change in garbage fees.

Capital Improvements

1. $96,284.50 is budgeted for paving. See page 11 for proposed paving schedule.

2. $5,000 is budgeted for improvements to the town buildings.

3. $20,000 is budgeted for storm drains and culverts.

4. $805,260 is budgeted for improvements to the sewer collection system.

Personnel

1. We employ one full time and one part time employee in the office and two full time and one part time employee in the maintenance area. Funds are included in the budget for a part time code enforcement officer.

2. Funds are included in the budget to reward employee performance.

3. Ms. Judy Paugh will serve as the Town Clerk/Treasurer.

4. Mr. William Rudd will serve as the Town Attorney.

Debt

1. At July 1, 1999 long term debt was $497,347.00. At June 20, 2000 long term debt was $417,872.00. At June 30, 2001 long term debt was $279,989.00. At June 30, 2002 long term debt was $255,092.00. At June 30, 2003 long term debt will be approximately $230,186 (this entire debt is for the 1995 sewer rehabilitation project). The interest rate is 3.180%. This debt is scheduled to be retired in 2016).

2. The sewer rehabilitation project will require additional long term debt. It is anticipated that the retirement of this debt can be funded through user fees.

Miscellaneous

1. The Town plans to continue contracting with the Garrett County Sanitary district for sewer maintenance work for FY 2004.

2. The budget includes funds of $1,500 for the circuit rider program.

3. Due to the approximately $66,000 loss in highway user fees, we are unable to appropriately address funding increased police protection.

4. Extensive overhaul of the water service and sewer treatment facilities are required. It is anticipated that any debt incurred by the Garrett County Sanitary District will be funded through ad valorem taxes.

3 7/22/03

CHARTS PAGES 4-11 only avaliable in PDF