City board approves first reading of budget
The Winchester Board of Commissioners approved the first reading of the Winchester city budget during their regular meeting, Tuesday, June 1. This budget covers the fiscal year beginning July 1, 2021, and ending on June 30, 2022. It appropriates the funds for city government operations based on estimated revenues and resources.
Winchester’s general fund is listed as $5.6 million. Total available resources are $28.6 million, which includes the Capital Equipment Fund, ($4.2 million); the MAPS Fund, ($1.1 million); the LGEA Fund, ($7,139); grants, ($469,010); the Room Tax Fund, ($155,434); and various other funds, ($421,873.)
It is estimated that total appropriations will be $22.2 million, which will take $2.3 million from the Capital Equipment Fund, $643,400 from the MAPS Fund, $5,000 from the LGEA Fund, the full $469,010 from grants, $140 thousand from the Room Tax Fund, and $41,250 from other funds.
After these appropriations, it is estimated that the balance by the end of the fiscal year will include $6.3 million from the general fund, $1.9 million for the Capital Equipment Fund, $459,805 for the MAPS Fund, $2,139 for the LGEA Fund, $15,434 for the Room Tax Fund, and $380,623 for other funds. Grants do not have an estimated remaining balance as cities are generally required to use all a grant’s funding.
A complete copy of this budget is available in the office of the Winchester City Clerk. The budget will be finalized if the second reading is approved during a commissioners meeting at a later date. The Winchester Board of Commissioners holds a regular meeting on the first and third Tuesday of every month at 5:30 pm.