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Projected Revenues See Slight Increase for 13-14

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The Knoxville City Council heard budget revenue projections from City Manager Harold Stewart during their regular meeting last night. Stewart estimated that revenues for the 2013-14 fiscal year would be around $9.8 million – up about 2% from the projected $9.6 million for the 2012-13 fiscal year. That figure is what they’ll use as city staff works on listing projected expenses for the next fiscal year. Stewart says they’re hopeful that they’ll be able to keep sewer rates from increasing this year, but says they’re still crunching numbers to see if that’s doable. He also noted to the Council that they’ll be balancing this year’s budget without using the projected $550,000 from the Utility Franchise Fees. Stewart says that money will be put aside to be used to plug any holes in the budget that occur from property tax reform, adding that it could also be used for one-time projects as well.