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Budget Big Theme Of Beloit City Council Meeting

The Beloit City Council met on Monday night, and the majority of the meeting revolved around the budget.

The city's Capital Improvement Budget will rise by more than 50% in 2022 to in excess of $149 million. The General Fund budget will total $35.2 million and will be divvied up in the following:

- 60% combined police and fire; 18% Public Works; 12% Finance and Administration; 7% General Government; 3% Community Development

This is an increase of 3%.

The Enterprise Fund Budget will increase by a combined total of $851,315 or 4% to $20.7 million while net new construction increased from 1.95% to 8.67%. Shared Revenue is flat, and there is no increase or decrease in highway aid, while Personal Property Aid Payment is $198,773. Assessed and Equalized Values are 7.95% and 22.26% respectively.

Municipal Property Tax Levy increased by $1,011,024 or 6.16$ with $100,000 attributed to debt service; this is restricted by levy limits. There was also a proposed $.25 increase in stormwater fee from $3.50 to $3.75. Special Revenue Funds will increase by 41% and the combined WO/TIF tax levy is 6.91% or about $.80.

Lori Luther asked residents to be patient. It was announced that there will be a workshop on October 11 at 10 AM to go over the budget, followed by a Public Hearing one week later, and the consideration of adopting the budget on November 1.

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