Wayland budget approved
WAYLAND – The Wayland city council adopted the fiscal year 2014-15 budget at its March 5 council meeting.
There is no change in the fiscal year 2014-15 budget concerning the City of Wayland’s total property tax levy rate from last year’s rate of $7.35002 per $1,000 taxable valuation.
The city has budgeted $265,840 more in expenditures this year, due to some upcoming construction projects.
A few of the city’s projects, including water, sewer, paving and draining at the new industrial park, has raised the budgeted amount for capital projects $476,826. The 2014 budget had capital projects at $199,914, whereas the 2015 budget lists $676,740.
Public works expenditures have decreased, according to the 2015 budget. In 2014, the city spent $217,625 and this year the city budgeted $124,210. According to city officials, this decrease is due to using road use tax funds to help finance the Industrial Park Road project.
Under revenues and other financing sources, the city’s intergovernmental revenues has increased by $84,984. Last year’s budget listed $340,000 whereas this year’s projected revenue is listed at $424,984. According to city officials, most of this money is for grants the city hopes to receive or is receiving. The city hopes to receive the CDBG grant for housing rehabilitation as well as the RISE grant for the industrial park road.
The beginning fund balance for fiscal year 2015 is $1,261,586 and the projected ending fund balance is $1,118,029 for a loss of $143,557.
The council also went into closed session during the meeting to discuss a possible real estate purchase. There were no motions made during the closed session, and t no action was taken when the council resumed in open session.
A public hearing date was set for March 19 at 7:30 p.m. for the Wayland Industrial Park East PCC pavement and drainage improvements 2014. The council also authorized the publication of a notice for taking bids for the project.
Another resolution approved by the council was to support the renaming of Iowa State Highway 78 and a portion of Iowa State Highway 149 to Jay N. “Ding” Darling Memorial Highway. The highways are located near Brighton.
The council also:
• Awarded the contract for the Wayland Industrial Park East water main and sewer project to TC Tiling who had a bid of $70,907;
• Authorized the mayor to sign a fireworks display agreement for the Wayland Fourth of July celebration.
The next Wayland City Council meeting will be March 19, at 7:30 p.m. at Wayland City Hall.