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Wednesday, November 29, 2017

Prescott City Council approves 2018 budget

The Prescott City Council approved the 2018 budget unanimously at its meeting Monday evening.

The amount of property tax going into the revenues of the budget in 2018 is $1,397,276, which is down .20 percent from 2017’s levy of $1,397,276.  However, total revenues for the budget are up 2.23 percent at $2,752,963 from $2,595,081. The budget is looking at increases in revenues from fines and forfeitures (a 17.88 change or an increase of $14,300) and other city taxes (up 4.12 percent or $5,750). The city is looking at increases in intergovernmental revenue, miscellaneous revenue (up 10.75 percent or $6,944).

City department which will see increases in their budgets for 2018 include General Government, Public Safety (1.92 percent of $20, 003), Culture, Recreation and Education, (13.49 percent or $12, 545) and the Contingency Fund (up 27.95 percent or $14,300).
The mill rate is up just slightly at 0.7 percent from 0.026086932 in 2016 to 0.026274296 in 2017 as it was adjusted to the mill rates of other taxing entities in the region.

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