Without comment, the Trenton City Council unanimously approved a revised city budget for the 2020-21 fiscal year Friday evening. All eight members of the council were either present at City Hall or participated via Zoom from their homes.
As described in previous articles, the city of Trenton budget shows deficit spending of $115,696 for the one year period beginning May 1st. That amount is based on projected expenses of $3,456,366 with revenue anticipated at $3,105,670. which is a difference of $350,696, however, the annual transfer of $235,000 from the road use fund cuts the difference to approximately $115,000.
Members of the council and city officials say the budget will be managed during the course of the year and the projected deficit as of April 30th, 2021 may not be as much as predicted now.
The new city budget, as previously described, includes salary increases for department heads and hourly workers of the city. So does the Trenton Municipal Utility budget that the city council had approved at Monday nights’ meeting.
The city of Trenton has cash reserves to roll over into the new fiscal year. Currently, reserves by the first of May are projected to reach $1,741,672. That figure includes an anticipated general fund surplus for the year ending this April 30th of approximately $88,000.
