Mayor Dave Hatter of Fort Wright said that despite a challenging year, city council passed a city budget that includes a 5% reduction in property tax rates for the fiscal year and keeps personal property tax rate and waste collection fee flat.
Hatter attributes the favorable rates to growth, financial analysis and current state of the city’s finances.
Hatter provided these budget highlights:
• An anticipated surplus of $555,730.02 at the end of this fiscal year.
• Substantial reserves. In fact, enough to run the City for a number of years with no income in the event of an emergency.
• Zero long-term debt. There is no plan to add any long-term debt in the foreseeable future.
• Ongoing investment in the 5 year rolling street program. For nearly a decade we have spent close to $600,000 per year which is nearly 12% of the General Fund Budget. You can view the annual street program by clicking here.
• Several new positions have been added in the Police Department over the last few years and three (3) new positions in the Fire Department this year.
• Purchased a new ambulance and a new fire truck with cash to the tune of $546,982.42. Our Capital Improvement Plan which can be found here shows us paying cash for all capital items in the foreseeable future.
Tax bills for FY 20/21 will be mailed soon and payment is due by close of business on Thursday, December 31.
The City was recently awarded $82,500 in Emergency Municipal Road Aid Funding for the stabilization of Fort Henry. Work on this project will be coordinated around the Amsterdam Road Reconstruction effort which is also a grant project involving the receipt of almost $3 million in state and federal funding.
City of Fort Wright