SNOWFLAKE — Town councilors got a look at the tentative budget for fiscal year 2018-19 of $10,045,215 for next year at the Thursday, July 3 regular meeting.
It includes $6.2 million for the general fund, nearly $700,000 for the special revenue fund and $2.2 million in enterprise funds for a total of a little more than $9.1 million in adjusted budgeted expenditures.
So, what is an enterprise fund?
Enterprise funds are more specific than money in a general fund that can be used wherever government needs it.
Enterprise funds (and Special funds) is money collected by government for specific purposes and can only be used for those purposes. Last year’s budget was slightly more than $9.1 million.
Nearly $15 million is currently in town coffers.
Estimated revenues other than property taxes for next year come to about $10.1 million.
A brief breakdown of some of the estimated non-property tax revenues for the coming fiscal year includes sales taxes of around $1.5 million, businesses licenses expected to be around $104,000, state shared sales taxes of around $574,000, state shared income tax of around $697,000, building permits bringing in an estimated $55,000, vehicle license taxes of around $387,000 and grants to the tune of around $1 million.