The approved 2017 Snead town budget reflects an increase of more than $550,000 from the 2016 plan. The state requires municipal balanced budgets. Snead’s budget, as prepared by town clerk Rae Ware, indicates total revenues of $2,686,693 and total expenses of $2,474,989.
The water department receives most of the increase at $510,054 under the budget. That budget provides much of that additional revenue by possible redemptions of $100,000 in certificates of deposit and a $360,000 loan from Liberty Bank. The completed purchase and installation of radio-read meters for water customers will consume much of those funds.
As presented to the council, Ware’s plan reveals balanced budgets for four of the five main categories: general fund, water department, sewer, and special revenue. Under the approved budget, park and recreation runs a deficit. The accompanying chart (below) breaks down the budget by streams above $20,000.
Under expenses, several line items fell just below the $20,000 threshold and, thus, are not included in the chart. Major expenditures under water and police departments have been noted by bold facing or underlining, respectively, within the chart.
The budget does not break down total salaries as a line item; those are italicized in the chart as are employee payroll taxes and retirement benefit charges. Employee health insurance, which totals over $50,000, falls within broader insurance and bond line items. Senior citizen center salaries and fire responder pay are budgeted at over $19,000 each.
Revenues (by line-items above $20,000)
|Town sales taxes||$488,678|
|Liberty Bank loan||$360,000|
|Court costs & fines||$204,600|
|Cashed in CDs||$100,000|
|Real estate taxes||$65,217|
|One-cent gas tax||$46,047|
|Volunteer fire dues||$39,892|
|Park and Rec.||$10,821||-$7,396|
Expenses (by line-items above $20,000)
|Water||department capital outlay||$360,000|
|Water||– supplier purchase||$207,152|
|Police||insurance & bond||$48,840|
|Water||dept. insurance & bond||$45,925|
|Water||dept. utilities taxes||$38,646|
|Ball||field lights payment||$37,537|
|Water||dept. payroll taxes/||retirement $27,049|
|Mayor||and council salaries||$25,800|
|General||fund–other||administrative exp. $22,130|