Urbana’s proposed budget for Fiscal 2017 includes some significant investments for the future.
The budget, for the fiscal year that starts July 1, shows $45.4 million in revenues and $49.5 million in expenditures, with capital projects accounting for most of the difference. In the important general fund, which pays for most city employees, the budget projects $33.1 million in revenues and $34.9 million in expenditures.
The budget calls for drawing down the city’s general fund balance from the current $8.4 million to $6.9 million to make a number of investments in city streets, equipment and facilities. Those investments include a transfer of about $900,000 to shore up the city’s Vehicle Equipment and Replacement Fund, which needs additional funding to meet the vehicle and equipment needs for the police, fire and public works departments. Similar sized transfers are planned for two additional years beyond fiscal 2017.