The Madisonville City Council had their first reading of a budget amendment at a special called meeting on Thursday to account for changes in revenue and expenses in the current fiscal year.
Madisonville’s Director of Finance, Cory Alexander said this time each year, the city has to look at the budget to make sure that the appropriations will not exceed in each fund.
“We are just trying to make sure we get ahead of this,” he said. “These are items that took place that had not been in the budget. Most of them were grants.”
According to the ordinance, amendments included an amended general fund revenues to include $320,000 in grant revenues.
The Madisonville Police Department expenses increased by $200,000 for the purchase of grant funded dispatch center equipment.
The Madisonville Regional Airport expenses increased by $120,000 due to grant funded facility improvements.
Municipal Aid Fund revenues increased by $237,000 due to special discretionary funds from the state.
Alexander said the increase in Municipal Aid expenses is for additional street paving, which was funded by the discretionary monies.
An increase in Restaurant Tax revenue was also amended showing an increase of $240,000 and $340,000 in local organization contributions.
According to the ordinance, the Restaurant Tax Fund expenses increased by $580,000 for projects including the Grapevine Bike Trails, Nature Park Playground at Mahr Park and the Sports Complex project, which is a shared project between the City of Madisonville and Hopkins County government.
The revenue in the sanitation fund also was amended for a $250,000 increase due to a rate increase that was approved on April 5. There was also an increase in the sanitation fund expenses of $250,000 for operating costs, according to Alexander.
The second reading of the budget amendment is set to be on the agenda of the Monday city council meeting that begins at 4:30 p.m. in the Madisonville City Council Chambers at city hall.