The City of Springfield’s annual budget for Fiscal Year 2019-2020 has been approved by the city’s Board of Mayor and Aldermen, which met at City Hall in a special-called meeting on Thursday, June 27 to approve the plan.
The budget passed the third of three readings unanimously, six to zero. Mayor Ann Schneider was absent.
The total funds budgeted for revenue in the draft for the General Fund and all of the city’s utilities is $86,097,350, with the expenditures projected to be $86,161,719.
There is no property tax increase proposed for next year. The rate will remain at $1.072 per $100 of taxable assessed value.
The city also approved a 25-percent rate hike for stormwater, an eight-percent increase for water and a two-percent rate increase for sewer.
The city votes were tallied on a new, electronic voting system board that is mounted on the wall of the City Hall boardroom.
Vice Mayor and Alderman Tim Harris led the meeting in the mayor’s absence.
Harris commended his appreciation to the city manager and all of the department heads in the city for putting together the budget.
“It’s not an easy process,” Harris said. “A lot of hard work has gone into planning it and we’re grateful to each one of you for that.”
City Manager Gina Holt was given a standing ovation following her being named City Manager of the Year by the Tennessee City Management Association.