By Charles Romans
Carter County Times
The Olive Hill City council met in special session on June 25,2024 to approve the city budget from 7/1/2024 through 6/30/2025. The city showed a balance carried forward of $38,156.00 in their Municipal Road Aid Fund, but no resources carried forward in the General Fund or Utilities Fund.
The city budget is an estimate of revenues, resources, and appropriating funds for the operation of the city government. Among the estimated revenues were listed $1,013,870.00 in taxes, $8,400.00 in licenses and permits, and $54,000.00 in intergovernmental revenues. Another $160.00 is projected for interest, $89,000.00 for rental/lease, and $23,025.00 in other revenue. These figures bring the total resources available in the General Fund to $1,188,455.00. Appropriations listed $218,026.00 in administration and finance, fire $238,754.00, police $534,610.00, street $125,576.00, recreation $44,489.00, and public library $27,000.00, bringing the total budgeted expenses to $1,188,455.00.
Municipal Road Aid, as stated, had a carry-over of $38,156.00. Intergovernmental revenues are listed at $35,000.00 for a total revenue of $35,000.00, combined with carry-over bringing the total to $73,156.00. The Utilities Fund lists $5,917,470.00, interest of $15,000.00, other revenue $147,145.00, for a total Revenue of $6,079,615.00.
The Budget was passed by unanimous vote and has an effective date of July 1, 2024.
Contact the writer at charles@cartercountytimes.com
