Thursday, June 4, 2009

Cookeville City Council OK's Budget

The Cookeville city council has approved the city's budget for the next year -- with no increase in the property tax rate. Finance director Mike Davidson says the tax rate will remain at 87 cents. He says projected revenues next year will be down somewhat, but the city will still have a healthy fund balance. Non-profit organizations will be getting more than half a million dollars in contributions from the city, but Davidson says almost no one is getting more than they did last year. He also says department heads have done a good job in the current fiscal year to curtail spending. Meanwhile, the council also approved an increase in the rates for water and sewer service. The final reading of that ordinance will take place later this month.