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Woodstock Approves FY 2015 Budget

The fiscal year 2015 budget is based upon the city possibly rolling back its property tax rate.

Credit: Patch file
Credit: Patch file
Woodstock leaders have approved the city's fiscal year 2015 budget. 

The Woodstock City Council on Monday voted to approve the budget for fiscal year 2015, which will take effect on July 1. 

The proposed budget is $34.1 million, down from the amended fiscal year 2014 budget of $37 million. 

Broken down, the city's proposed funds are: 
  • general fund at $17 million, down from $17.3 million
  • water/sewer at $10.3 million, down from $12 million
  • stormwater at $1.7 million, down from 2.2 million
  • special revenue /internal service funds* at $4.9 million, up from $3.65 million
*special revenue includes Special Purpose Local Option Sales Tax, impact fees, etc.

Included in the budget is a contribution to the Sequoyah Regional Library System and 2 percent cost of living adjustment for full-time and year round part-time employees. 

City staff also made some changes to the budget since the first reading in May, such as contributing $10,300 to the Cherokee Office of Economic Development to help fund an additional staff member and adding $8,500 towards the cost of a special election, if needed.

This year's budget also includes a water/sewer base rate increase. 

The water base rate will rise from $11 for up to 1,000 gallons to $12 for up to 1,000 gallons while sewer will increase from $6.88 to $7.88 for up to 1,000 gallons. 

Combined, the total base rate will jump from $17.88 for up to 1,000 gallons to $19.88 for up to 1,000 gallons. 

The budget numbers are based upon a projected 18 percent increase — before appeals are resolved — in the county's gross property tax digest. With that in mind, staff is recommending the city roll back its millage rate from 7.889 mills to 7.250 mills.

Woodstock will vote on setting its millage rate in August. 

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