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ROCKWOOD CITY COUNCIL PASSES 2020-2021 PROPOSED BUDGET ON FIRST READING

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The Rockwood City Council passed their proposed new fiscal year budget this week on first reading. So far, there is no proposed tax increase for property owners in Rockwood this year. Department heads were asked to present their respective budgets without any new requests at this time. A second reading will take place at June 22, 2020.

Highlights of the budget include:

  • Reappraisal Year- The City of Rockwood prepared their budget based on last year’s property tax rate. Following the county’s official notice of reappraisal, the city’s tax rate will be set. This rate will be set some time before tax notices are mailed out in the fall.
  • COVID Concerns caused the lowering of some revenues.
  • The city has no new capital projects in the new budget. The only capital projects in general fund are two that have not yet been completed- additional paving & complex sealing.
  • No raises were placed in budget because of the COVID-19 shortfall concerns. Bonuses have been removed for now, until the city see how revenues continue over the next few months.
  • Debt payments for LED lighting and improvements to city buildings etc. have increased but energy savings will help pay the debt.
  • The city had $132,000 energy savings from last year designated for debt service. They are adding over 40,000 in savings to the amount this year.

Expenditure Notes

  • Expecting up to 10% increase in Health insurance
  • Naming Eric Everhart to new golf manager.
  • Naming Duke Spradling as the new airport manager.
  • Airport Expenditures have increased, but revenues are expected to increase enough to cover. Airport is doing exceptionally well. Fuel sales are increasing every day and all hangars are full.

Other Funds- Notes

  • State Street State Supplement Revenue – Lowered because of COVID-19 concerns and lower gas prices, bringing in less revenue. Expenditures were lowered to match the decrease.

Rockwood Mayor Mike Miller’s quotes regarding the budget:

“It’s a very conservative budget. We made cuts that hopefully addresses COVID- 19 concerns. We know the State of Tennessee is going to have a huge shortfall, which will affect cities and counties in the end. We feel like this is a safe budget, with all that is going on.”

“The sad part is that this is the first time I can ever remember we were unable to give our employees a raise or a bonus. We had many fortunate years where we were able to do both. There is just no way we can commit to that right now, until we see how this pandemic plays out. It’s no one’s fault except the pandemic.”

“The council and I are looking at some other options of things we may be able to do for them. I want to thank this council for their support of this budget. I am fortunate to be able to work with all of them to make our city a better place. I’d also like to thank all the city employees who work with us in our efforts.”

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