Budget FY 2005 The Town of Mtn. Lake Park

Revised June 4, 2004

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

Budget Highlights FY 2005

Taxes and Service Charges

1. Real estate taxes will be increased by .05 cents. The new tax rate will be .38 cents.

2. Personal property taxes will be reduced from .62 cents to to .31 cents.

3. Sewer rates will not be changed.

4. Garbage fees will increase from $13.75 per quarter to $21.75 per quarter.

Capital Improvements

1. $70,000 is budgeted for paving. See page 8 for a proposed paving schedule.

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

3. $19,000 is budgeted for storm drains and culverts.

4. $800,000 is budgeted for improvements to the sewer collection system.

Personnel

1. We will employ one full time and one part time employee in the office and two full time and one part employee in the maintenance department.

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 June 30, 2002 long term debt was $255,092.00. At June 30, 2003 long term debt was $249,804. At June 30, 2004 long term debt will be $233,987 (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 may require additional long term debt. It is anticipated that the retirement of this debt can be funded through user fees in the Sewer Fund. Application has been made for approximately $800,000 in sewer grants.

Miscellaneous

1. The Town plans to continue contracting with the Garrett County Sanitary district for sewer maintenance work for FY 2005.

2. The budget includes funds of $2,000 for the circuit rider program.

3. A total of $61,924.16 is budgeted for public safety.

CHARTS Pages 3-9 in PDF format only