The Carroll City Council approved the Fiscal Year (FY) 2024 budget during Monday’s meeting without any input from the public. Officials had to revise the budget after the Iowa Legislature corrected the state’s property rollback calculations, reducing the city’s overall tax base. The city’s finance director, Laura Schaefer, highlighted a few key details from Carroll’s FY24 budget.
The combined FY24 levy for Carroll will be $12.16844 per $1,000 of taxable assessed valuation, which includes the $8.10 General Levy and $1.408 Debt Service Levy. Total estimated revenues and other sources for FY24 are $25.7 million, while total expenditures, including transfers, are around $31.3 million. As of June 30, 2024, the city’s ending fund balance is projected to decrease by $5.6 million to approximately $20.4 million. No comments were received from the public during or before Monday’s hearing. Mayor Mark Beardmore acknowledged the efforts of city staff, as department heads had to prepare budgets twice due to the rollback change.
The council voted 5-0 to approve the FY24 budget. The entire 295-page budget is available at www.cityofcarroll.com/finance, as well as on our website with this story. Other items on Monday’s agenda included the first reading of a zoning ordinance amendment for the construction of a small-scale welding shop at the request of Collin and Dick Wernimont, the city’s participation in an Iowa Finance Authority down-payment assistance program, and the standardization of city participation in Catalyst Grant applications. Carroll Broadcasting will provide more information on these topics in upcoming newscasts.
