The Town of Madison has set a draft budget for the fiscal year 2021-2022.
Once again there are no real surprises with the proposed budget for the new fiscal year beginning July 1, 2021 with it looking much the same as the past two years’ budgets.
Income is projected to be $206,960, slightly higher than the $186,260 from 2020-2021. Income from real estate tax is expected to be the same as the current year with the real estate tax rate continuing at .0825 per $100 of assessed value. Income from the meals tax is expected to be the same at $42,000 but revenue from the DMV Select office is expected to increase by $15,000 to $105,000 up from $90,000. Once again the pass through grant for the fire department has been added to the budget. Until the current year’s budget, the grant had been treated as a pass through and ignored in the budget but last year town attorney Maynard Sipe pointed out that it should be reflected in the annual budget.
Expenses are very similar to past budgets. Employee salaries have increased by $19,136 with the addition of another part-time employee. Postage expenses are projected to increase by $325 and there is an additional $1,000 budgeted for planning commission expenses. There are slight increases in office rent and phone and internet service.
Council will vote on the proposed budget at the regular meeting June 3, 2021. Township residents with questions or concerns about the draft budget are invited to attend the June meeting where public commentary will be scheduled for 7 p.m.