By TRACI L. WEISENBACH
For the Advertiser
SEBEWAING – The village council here approved the village’s and Light and Water Department’s proposed 2015-16 fiscal year budgets at its recent regular meeting.
The village’s largest fund – the general operating fund – is projected to total $704,761. This includes the following categories: governing body, clerk, building and grounds, police, department of public works, street lighting, trash and recycling and recreation/parks. The proposed budget indicates that $6,646 from the fund equity is being used to balance the revenue side with the expenditure side.
Other budgets approved include the major street fund ($180.489); local street fund ($140,435); municipal street fund ($172,500); sewer fund ($583,000); and equipment rental fund ($96, 459).
Within the major street and local street funds are the following categories: routine maintenance, trees, bridges, traffic services, winter maintenance and administration.
All of the village’s proposed budgets add up to $1.87 million for 2015-16. The village’s fiscal year is from April 1 to March 31.
When compared with the 2014-15 fiscal year budget figures, the 2015-16 proposed budget represents a $442,602 decrease (about 19 percent). The largest decrease is in the sewer fund (about 37 percent).
During the meeting, the council conducted a public hearing for the proposed budget, as required by law.
As for the 2015-16 Light and Water Department proposed budget, three funds are included: Internet fund ($300,675); electric fund ($4.22 million) and water fund ($744,500).
These figures will be amended throughout the fiscal year.
Council members also approved the operating millage (10.6894 mills) and the street millage (3.8620) for the 2015-16 fiscal year. These figures are unchanged from the 2014-15 fiscal year.
In other business during the recent meeting, the council conducted a public hearing and then approved a resolution to create an Industrial Development District (IDD) on the Light and Water Department-owned property on each side of Albert Street near Pine Street. The creation of an IDD makes a property more enticing to businesses, as it provides a tax incentive to manufacturers to enable renovation and expansion of aging facilities, assist in the building of new facilities and to promote the establishment of high tech facilities.
The creation of a second IDD is in the works. A public hearing is set for 7:15 p.m. April 6 as part of this process.
The council also approved an Industrial Facilities Exemption Certificate for Bayside Beans. This certificate entitles the facility to exemption from ad valorem real and/or personal property taxes for a term of up to 12 years. For Bayside Beans, this means a savings of up to $575,980, officials said. The facility is planning to build four new silos, which will create three full-time jobs.
In other business, council members approved a non-union employee wage increase of 1.5 percent. This affects six employees, officials said.