More building drives Timnath budget

By Dan MacArthur
Fossil Creek Current

The 2008 budget adopted by the Timnath Town Council is predicated on continued strong growth in home construction.

"I really think next year is indicative of us moving forward," said Town Manager Becky Davidson.

She said the town expects to issue 120 building permits this year. That compares with around 95 as 2007 came to a close and the modest three permits issued in 2006. Davidson said Timnath collects roughly $8,000 in fees from each of those permits to finance its operations and maintenance.

The $1.58 million general fund budget adopted by the council in December represents a 38 percent increase from the $1.15 million budgeted in 2007.

Much of that increased spending will be for personnel as the town ramps up to take over new responsibilities resulting from its transition.

For example, Davidson said she expects to hire two public works employees and purchase a dump truck and snowplow to maintain trails and roads. She said the town's current 30 miles of roads are expected to more than double in a few years.

The town also budgeted for an accountant, a public information officer, an information technology specialist to maintain the wireless Internet system, and a police chief to guide the town's move toward creating its own department.

Some $115,000 also is earmarked for bringing wireless Internet service to old town Timnath.

Excluding capital expenditures, Timnath on the whole in 2008 expects $4.2 million in total revenues, including a nearly $2 million beginning fund balance. Total expenses are estimated at $2.2 million, leaving a nearly $2 million reserve fund, all but $185,000 of which is earmarked for specific purposes.

In the general fund portion of the budget, revenues are projected at $755,335. The $830,000 difference will be covered by more than $1 million the town has stashed as a beginning balance to carry it through to 2009, when sales tax revenues are expected to begin flowing from the Wal-Mart Supercenter.

Annexation and development fees of $267,400 and building use taxes of $232,075 are the chief sources of projected revenue.