Delaware City Council will consider a 2019 budget against a backdrop of positive economic indicators, including low unemployment and job growth.
The General Fund portion of the budget presented by City Manager Tom Homan forecasts revenue estimates of $23,724,382. Projected expenditures are $23,971,947. The budget’s first reading was November 26. A second reading and public hearing will take place on December 10, with final adoption on December 20. Additional budget work sessions in December appear on the City’s website calendar.[widgets_on_pages id=1]
In his budget message to City Council, Homan noted several encouraging indicators: an unemployment rate at 3.2 percent through October; 230 new jobs created so far in 2018; and household income that is growing. Delaware’s primary revenue, income tax, is projected to grow in 2019, to $15,645,000, compared to $14,917,000 for 2018.
“The improving revenue picture results in the City being better able to meet its needs,” Homan said.
BUDGET HIGHLIGHTS
- Delaware’s population is expected to reach 41,500 before the end of the year. This represents a growth rate of 17.4 percent over 2010 and 6,000 new citizens.
- Investment income revenue is projected at $650,000 in 2019. By means of comparison, it was $144,144 in 2016.
- The budget projects a reserve fund balance of $4,216,142 or 17.6 percent of expenditures, meeting the City’s financial management target of 17 percent.
- A recommendation for two new police officers to address shortages on the second and third shifts. The second, or afternoon shift, is the City’s busiest and the third, or Midnight, shift is the first shift to lose officers to supplement the other shifts.
- The City’s recycling processor is increasing the fee it charges. This would cost the average residential customer approximately $1 more per month, from the current monthly rate of $19.73 to $20.73.
