City council proposes annual budget

Bowling Green City Council saw dollar signs last night but it was all part of an annual routine.

It’s budgeting time.

Megan Newlove, council president and head of the finance committee, said the city administrators put together the proposed budgets with the help of council each year. Everyone is in harmony about the proposed budget, meaning there is a great likelihood of it passing.

“Getting the budget passed at the end of the year is the most significant thing,” Newlove said.

But this year there are some new additions.

Council proposed some special funds to prepare for upcoming major expenditures, at-large member Robert McOmber said.

Finance director Becky Underwood said her department worked with council to create new capital funds.

As a result of these discussions, the city plans to eventually put extra money into the following areas:

” Payroll Stabilization Fund: Pays for employees who retire and have unused sick leave or vacation time. This will also provide money for an extra week of pay next year.

” Facility Capitalization Fund: Provides funding for new city buildings. Mayor John Quinn would like to build a new city hall in coming years and this fund would provide for that new facility.

” Equipment Capitalization Fund: Reserves money for items that cost the city more than $100,000. Such items could include equipment used by the fire department.

” Roadway Capitalization Fund: Helps the city save for future improvements to city streets. For example, North Main Street will probably need to be widened in coming years.

If the budget is passed, the amount of money placed in these funds will be supervised by the mayor, Underwood said.