Regular Meeting (FY 2025-26 Line Item Budget DRAFT)

The 2024-2025 line item budget for Centerville Township outlines the financial planning for the fiscal year, including actual figures as of March 1, 2025, and proposed figures for the following year, FY 2025-2026. The total revenue for FY 2024-2025 was projected at $659,157, with actual revenues reaching $607,614 by March 1, 2025. The proposed revenue for FY 2025-2026 is slightly lower at $648,377. Key revenue sources include property taxes at 0.56 mills ($82,414 projected, $70,938 actual), fire operating millage at 2.25 mills ($342,987 projected, $301,545 actual), and state shared sales tax revenue ($137,192 projected and actual). Other notable income streams include federal grants, permits, and various fees and charges.

On the expenditure side, the total budgeted expenses for FY 2024-2025 were $655,690, with actual expenses amounting to $600,997 as of March 1, 2025. The proposed expenses for FY 2025-2026 are $644,061. Major expense categories include road improvements ($81,328 budgeted, $81,290 actual, $50,000 proposed), administrative wages across various departments, and significant allocations to the fire department ($327,519 budgeted, $326,994 actual, $346,545 proposed). Other expenses cover legal fees, auditing services, office supplies, and utilities for township facilities.

The net revenue for FY 2024-2025 was budgeted at $3,467, with an actual net revenue of $6,617 by March 1, 2025. The proposed net revenue for FY 2025-2026 is $4,316. This budget reflects a conservative approach to financial planning, with adjustments made to accommodate changes in revenue and expenditure patterns. The township aims to maintain fiscal stability while ensuring adequate funding for essential services and infrastructure improvements.