Town Adopts Budget for FY 2021-2022

The Town Council adopted their annual budget of $3.2 million with the projection that cash reserves at the end of the fiscal year of $3.9 million.

This adopted budget has a General Fund reserve of approximately $225,500, which is approximately 22% of the total General Fund expenditures of $1.04 million. With the adoption of this budget, the Town will continue its efforts toward the Strategic Plan adopted by the Town Council in April. That spending includes over $75,000 in public safety staffing which will add a police officer to the force and increase recruitment and training efforts of volunteers in the Fire Department.

“The Town Council has showed remarkable leadership in adopting financial policies that ensure the Town is funding its obligations, investing in infrastructure, and maintaining financial reserves to invest or use in an emergency," said Mayor Brandon Dewey. "This budget reflects the hard work, foresight, and dedication to these sound financial principles.”

The budget allows the Town to increase investments in critical water main infrastructure and will focus on mainline replacement and the continuation of obtaining water rights. Additionally, this budget projects annexations around the existing incorporated boundaries. The Town Council has directed the administration to begin pursuing voluntary annexations of properties who are already using city services, but not paying for them. The Town Council and administration are also contemplating annexation of commercial properties along the US Highway 93 corridor to help boost General Fund revenue for future services.

“I'm extremely proud of the work the Town Council and the staff have done in finalizing a budget that demonstrates our financial prudence, despite the challenges of the pandemic and our revenue gap,” said Mayor Dewey. “Our residents can be assured that we are investing in the present and the future of Stevensville.”

The adopted budget covers the Fiscal Year 2021 – 2022, which runs from July 1, 2021 to June 30, 2022. The adopted budget is available on the Town’s website at https://www.townofstevensville.com/finance/page/budgets

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