CAMP VERDE – Wednesday, the Camp Verde Town Council could approve a tentative budget with debts projected to exceed income by $9 million.
With $27.45 million in expected expenses and $18.1 million in expected revenue, things are actually not as grim as they seem.
Because the debt differential is not all due today.
Not counting the town taking out a $7 million loan for Phase I of the Camp Verde Sports Complex and borrowing another $3.5 million for upgrades on the wastewater facility, the town’s fiscal year 2018-2019 proposed budget endeavors to be balanced, Martin said.
But the difference, on the surface, is “glaring,” Martin said.
Though the various Capital Improvements Projects delineated in the tentative budget are what Martin called “the biggest opportunity to be confused.”
“Council wants to continue to make progress on these projects,” Martin said. “And we have reserve. So they want to take on smaller projects and make progress. Like the kitchen in the community center.”
The tentative fiscal year 2018-2019 budget, which includes a list of Capital Improvements Projects, can be found at: www.campverde.az.gov/wp-content/uploads/2010/08/2018-06-20-Agenda-Item-FY19-Tentative-Budget.pdf.
Also Wednesday, council will discuss the following agendized items:
- Council could approve the purchase of the land that used to house the old Circle K at the downtown Y-intersection;
- Council could approve the Town of Camp Verde’s new wastewater (sewer) policy.
At 6:30 p.m., the Camp Verde Town Council will meet in council chambers, located at 473 S. Main St., Suite 106.
A copy of the June 20 agenda can be found at www.campverde.az.gov/government/town-clerk/agendas-minutes-actions/2018-town-council/.
-- Follow Bill Helm on Twitter @BillHelm42