PRINCETON — The Princeton City Council is projecting an estimated $24,897,000 in revenue for the city’s 2013-14 fiscal year, which begins May 1, 2013.
At Monday’s meeting, the city council approved an ordinance levying $1,573,843 in property taxes from the 2012-13 tax levy. Additional revenue is projected at $23,323,158, with the primary sources of that revenue coming sales tax and income tax.
On Tuesday, City Manager Jeff Clawson said the property tax rate for the city itself remains at 1 percent, or $1 per $100 of assessed value of property. Taxpayers also have an additional tax rate of 0.1162 percent for the Princeton Public Library bonds, which were approved by referendum for the building of the new library.
In looking at some of the various funds, Monday’s ordinance showed projected total revenue for the general fund for the 2013-14 year at $5.9 million, for the water fund at $2 million, for the self-insurance fund at $1.5 million, and the wastewater fund at $1.25 million. The electric fund shows projected total revenue at $11.3 million, but about $8 million is spent by the city to buy its electricity through the Illinois Municipal Electric Agency, Clawson said.
In other business at Monday’s meeting, the council decided to move up its regular meeting time from 7:30 p.m. to 7 p.m. on the first and third Mondays of the month. The change will begin in January.
Commissioner Bob Warren brought up the suggested time change, saying the earlier meeting time could make it more convenient for the public to attend meetings. Also, the earlier starting time would be better during the winter months. Warren recommended the earlier time be done a trial basis to see if it worked.
Commissioner Terry Madsen said he had no problem with the earlier starting time, but questioned adjusting the starting time during the year. The starting time needs to be consistent throughout the year, he said.
In his comments, Mayor Keith Cain said the 7 p.m. starting time could be a hardship during the spring, summer and fall months for people who may work later during the longer daylight hours.
After further discussion, the council agreed to the earlier starting time on a trial basis.
In the city manager’s report, Clawson said the repair work on the Anderson building on North Main Street is completed. The city did pay about $10,800 to get that work done, but will be repaid, he said. Concerning the proposed downtown facade program, further research will be done into grant money, but hopefully the city can place $50,000 into next year’s budget for the program, he said.
Also, the Darius Miller Park Committee is evaluating the existing use of the park and hopes to have some possible recommendations for the council to consider before budget planning time next year, Clawson said.
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