ORDINANCE NO. O-09-2008

AN ORDINANCE ADOPTING A GENERAL FUND BUDGET, MUNICIPAL ROAD AID FUND BUDGET, SANITARY SEWER REHABILITATION FUND BUDGET, DEBT SERVICE FUND BUDGET, TOWER PARK ENTERPRISE FUND BUDGET, CABLE TELEVISION FUND BUDGET, CENTRAL BUSINESS DISTRICT REVITALIZATION FUND BUDGET, CAPITAL PROJECTS FUND BUDGET AND WASTE DISPOSAL FUND BUDGET FOR THE CITY OF FORT THOMAS, CAMPBELL COUNTY, KY, FOR THE FISCAL YEAR 7/1/2008 – 6/30/2009, BY ESTIMATING REVENUES AND RESOURCES AND APPROPRIATING FUNDS FOR THE OPERATION OF CITY GOVERNMENT.

WHEREAS, an annual budget proposal and message have been prepared and copies delivered to the Board of Council; and

WHEREAS, a Public Hearing has been conducted and the Board of Council has reviewed the proposed budget for FY 2008 – 2009 and made any necessary modifications;

NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF FORT THOMAS, CAMPBELL COUNTY, KENTUCKY:

SECTION I

That the annual budget for the Fiscal Year beginning 7/1/2008 and ending 6/30/2009 for the following funds is hereby adopted:

RESOURCES AVAILABLE	GENERAL FUND	MUNICIPAL ROAD AID FUND	TOWER PARK FUND
Estimated Carry-Over Balance	$ 2,307,136	$ 321,133	$ 975,510
REVENUES
Taxes	3,886,690
Licenses/Permits	4,171,530
Fines/Penalties	55,750
Investment Income	309,355	4,000	25,000
State/Fed/Reimb Rev	176,660	1,070,008
Current Services	562,215
Projected Assessments		27,000
Miscellaneous	56,580	7,500	5,000
Transfer Funds	100,000
Franchise Tax		75,200
TOTAL REVENUES	9,318,780	1,183,708	30,000
TOTAL AVAILABLE FUNDS	11,625,916	1,504,841	1,055,510

EXPENDITURES
	GENERAL FUND	MUNICIPAL ROAD AID FUND	TOWER PARK FUND
General Administration	1,159,685
Police Department	2,926,530
Fire Department	2,425,560
Recreation Department	515,235
General Services Dept.	2,094,195
Grants and Subsidies			6,500
Capital Improvements		1,387,110	71,000
Transfer Funds	435,670		12,990
Reservation of Funds
TOTAL EXPENDITURES	9,556,875	1,387,110	90,490
ESTIMATED SURPLUS	2,069,041	117,731	915,020

SECTION II

That the annual budget for the fiscal year beginning 7/1/2008 and ending 6/30/2009 for the following funds is adopted as follows:

RESOURCES AVAILABLE	SANITITARY SEWER REHABIL. FUND	DEBT SERVICE FUND	CABLE TELEVISION FUND
Estimated Carry-Over Bal.	$175,606	$ -0-	$ 230,339
REVENUES
Interest Income	2,000		5,000
Subscriber Fees			24,000
Transfer Funds		417,781
TOTAL REVENUES	2,000	417,781	29,000
TOTAL AVAILABLE REVENUES	177,606	417,781	259,339
EXPENDITURES
Debt Principal Payments	111,657	343,490
Debt Interest Payments		74,291
Program Fees			2,500
Transfer Funds	65,949
Capital Expense			18,000
TOTAL EXPENDITURES	111,657	417,781	20,500
ESTIMATED SURPLUS	-0-	-0-	238,839

SECTION III

That the annual budget for the fiscal year beginning 7/1/2008 and ending 6/30/2009 for the following funds is adopted as follows:

RESOURCES AVAILABLE	CBD FUND	WASTE FUND	CAPITAL PROJECTS FUND
Estimated Carry-Over Bal.	$865,714	$ 85,086	$ 300,000
Current Services		735,000
Transfer Funds	420,000
Lease Revenue	1,500,000
Interest Income	18,000
Miscellaneous	12,500
TOTAL REVENUES	1,950,500	735,000	-0-
TOTAL AVAIL. FUNDS	2,816,214	820,086	300,000
EXPENDITURES
Midway Project Expense	1,500,000
Transfer to Debt Service	389,810
Transfer to General Fund
Personnel	41,545
Professional Services	32,500
Waste Collection Expenses		758,725
Misc. Operation Funds	28,080
Project Expense			300,000
TOTAL EXPENDITURES	1,991,935	758,725	300,000
ESTIMATED SURPLUS	824,279	61,361	-0-

This Ordinance shall be signed by the Mayor, attested by the City Clerk, published according to KRS Chapter 424, and shall be in effect at the earliest date provided by law.

APPROVED:

______________________________

Mary H. Brown, Mayor

1^st Reading: June 2, 2008

ADOPTED: June 16, 2008

Published: June 26, 2008

ATTEST:

_________________________________

Melissa K. Kelly, City Clerk