Troy City Council Passes 3-Year, Annual Budgets

After weeks of budget hearings, the Troy City Council formalized its new balanced budget last month with a unanimous vote.

Director of Financial Services Thomas Darling said to the City Council at its meeting May 20, that millage rates will remain in stable in most funds as part of both the 2013-14 annual city budget and the three-year budget.

The total millage rate for 2013-14 stands at 10.52, with an increase of one half-mill in the refuse fund beginning next year pushes the total millage rate for 2014-15 and 2015-16 at 10.57. In addition, water and sewer rates are expected to remain stable.

City manager Brian Kischnick, working with a budget in Troy for the first time after being hired last August, commended the City Council for their expedient work. "Everyone did a great job and was very receptive. Understanding that we were able to meet the strategies that were put in place by the City Council in many ways," he said.

With the new budget, the fund balance is projected to be just over $9.1 million by June 30, 2014. The fiscal year begins on July 1, 2013.

To watch the special city council meetings held in April which led to the budget, visit the City of Troy on YouTube: April 22 and April 24 meetings. For a closer look, visit the city's website (PDF) or view the attachments in the article.