Woodstock budget assumes reduced revenues for FY 2021

The Woodstock City Council has had a first reading of a proposed, $47.4 million budget for the 2021 fiscal year that anticipates a revenue decline and spending controls as consequences of the ongoing COVID-19 pandemic.

The budget assumes a 2 percent decline in recurring revenues, a 2 percent increase in net property tax revenues after appeals and exemptions, and a millage rate unchanged at 6.554 mills, according to a staff presentation to the council. The FY 2021 general fund would total $22 million, down $441,301 from $22.4 million in FY 2020.

Cost-control measures include no cost-of-living adjustments, no new personnel, no salary adjustments to current personnel, no out-of-state travel, and encouraging employees to use comp time rather than overtime.