The Woodstock City Council gave final approval to the city’s FY 2016 budget Monday night.
It totals just over $36 million, with the general fund budget coming in at slightly less than half of that, at $17.6 million. That’s an increase of about $602,000 or 3.5 percent from current general fund levels. The budget includes $250,000 in contingency funds.
With the city’s property tax digest projected to rise 7.52 percent, the city is proposing a revenue-neutral millage rate rollback from 7.25 to 6.82. Planners said that number will be a moving target between now and August, when the millage rate is adopted.
The new budget includes a 2-percent cost of living raise for full-time and year-round part-time employees kicking in January 2016. It also puts a police education incentive program and an early retirement program for public safety employees into effect January 1.
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