Newark approves 2017 city budget

January 15, 2017 by  

Members of the Newark, Ohio, city council recently passed the city’s budget for 2017.

The budget totals $31.5 million, approximately 5% higher than the 2016 budget, but Newark officials say they didn’t have to dip into their “rainy-day fund” to balance it, according to an article in the Columbus Dispatch. For the past three years, the city was forced to use money from that fund to fill gaps in the budget.

Doug Marmie, a city councilman and the finance committee chairman, called the budget “very tight” without much “wiggle room.” He added he had no doubt issues would arise during the year that would require additional decisions, but he’s very pleased at the way the budget has shaped up thus far.

A lot of the increase in the budget is due to the cost of health insurance, but increased revenue from income taxes have offset those costs. Jeff Hall, Newark’s mayor, said he wasn’t sure why tax revenue had increased, but speculated that ongoing construction in the city, and the new Kroger Marketplace, might have helped.

The split between capital improvements and operating expenses has shifted slightly as well. The new budget designates 86% of the revenue for operations, and 14% for capital improvements. For the last two years, the split has been 90% for operations and 10% for capital improvements.

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