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Fist Pass of New FY Budget for Abingdon

The Abingdon City Council is prepared to approve a new fiscal year budget in two weeks.


The proposal introduced last night projects expenditures of around 2-point-3 million dollars, about 6-thousand dollars less that what's allotted in the current spending plan, and a deficit of around 822-thousand dollars.


Alderman Mike Boggs, chairman of the city's finance committee, says the deficit is tied to capital projects.


The projects include rehabilitating Well #3---which will serve as a back-up water supply for the city---completion of the new water tower, replacing old fire hydrants, and purchasing and tearing down dilapidated buildings in the 100 block of North Main Street. The money is in reserve for the well rehab and water tower projects because the city council previously passed a bond ordinance to pay for them.


Boggs says adjustments were also made in the budget for the high price of gas, and salary increases.


The city council will hold a public hearing before formally voting to approve the new budget, possibly during the city council meeting in early June.

05 20 08 by Newsroom
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