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No rate hikes in proposed budget

May 09, 2002|BY SCOTT BUTKI

HANCOCK - Hancock Town Manager Louis Close introduced the town's fiscal year 2003 budget at Wednesday's meeting.

The town's proposed operating budget is $860,190, up from $797,000 this fiscal year, Close said. The difference is mostly because grants are included in the proposed operating budget whereas they were not before, Close said.

The fiscal year begins July 1.

About half of the budget costs, $426,676, are for payroll and benefits.

There are no rate increases in the proposed budget, Close said.

The Hancock Town Council's second reading of the budget will be at its June 19 meeting, Mayor Daniel A. Murphy said.

The largest source of revenue in the budget is $228,000 in real property tax. The next largest revenue sources are $110,000 in highway use tax and $85,000 in state income tax.

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The budget estimates $16,000 in swimming pool admission charges and $5,000 in concession revenues.

The budget includes a 2 percent pay raise for the 12 full-time and five part-time employees.

Under the proposed budget, the Water Enterprise Fund is $263,700. The town has 674 water customers: 525 residential accounts, 136 commercial accounts and 13 out-of-town users, according to the budget.

The budget's Waste Water Enterprise fund is listed at $241,000. There are 663 accounts of which 519 are residential.

The budget's Sanitation Fund is $73,589. There are 770 residential accounts.

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