Woodstock City Council members got a look at the proposed FY 2016 city budget Monday night, which comes in at just over $36 million. That’s compared to the amended 2015 budget totaling some $34.3 million.Out of that, the proposed general fund budget for 2016 would increase to $17.6 million, after settling in at just over $17 million last year.
Budget documents presented at the meeting show that recurring revenues are expected to increase 3.5 percent and the net property tax digest is anticipated to jump by 7.5 percent. Thus, city budgeters are proposing to decrease the millage rate from the current 7.250 to 6.823 as a revenue-neutral move. Resulting individual property tax bills could increase or decrease somewhat, depending on values set by the tax assessor.
The proposed budget includes a 2 percent midyear cost of living raise for all full-time and year-round part-time city employees, a police education incentive program and an early retirement program for public safety employees. The budget also proposes to spend $100,000 dollars on engineering work and for some of the cost of construction bids on the city’s long-talked about downtown amphitheater.
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