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PARKERSBURG -- Parkersburg City Council's Finance Committee will meet tonight to consider budget revisions that would allocate $2.4 million.
The meeting is scheduled for 6 p.m. today in the executive conference room on the second floor of the Municipal Building.
The bulk of the money comes from a $1,358,647 increase in projected business and occupation tax revenue. That would raise the forecast amount to $9,210,607.
Finance Director Eric Jiles said the increase can be attributed largely to inflation in general and completion of the $50 million Memorial Bridge rehabilitation project specifically.
"I've always felt that being conservative and seeing what happens is a better way to budget than trying to capture what we think's going to happen," he said.
The revision going before the committee is based on revenue from the first quarter of this fiscal year, which began July 1. Jiles said second-quarter results will help inform him as he begins work on the 2024-25 budget.
The revision includes an additional $356,113 in municipal sales tax revenue and $225,000 in interest income, when only $30,000 had been projected. Jiles said that's due to the budget being put together in February 2023, as interest rates were still rising.
Of the additional money, $650,000 would go toward construction of a planned $13 million recreation and community building in City Park, bringing the total allocated to $4,695,496.
A transfer of $526,669 to the capital reserve fund is proposed, including $150,000 for lighting along the new Parkersburg Ohio River Trail, $45,000 to stabilize the foundation at fire station 6 in south Parkersburg, $42,824 to renovate the press box at the baseball field in City Park and $40,000 for graffiti abatement on the floodwall.
The sanitation fund would get an infusion of $200,000 to the unappropriated fund balance city officials have been building in an effort to reduce the need for future rate increases. And $150,000 would be moved to the demolition fund to address dilapidated properties. Another $125,000 would go to the Engineering Department for emergency demolition costs.
The stormwater budget line would get $165,000 for a property purchase and $150,000 for additional storm sewer lining.
Other changes involve revisions in various line items to reflect revised estimates. The largest not involving additional revenue is a shift of $225,000 from vacant police patrolman salaries to overtime for officers.
If the resolution is approved by the committee tonight, it likely would appear on council's Feb. 13 agenda.
Evan Bevins can be reached at ebevins@newsandsentinel.com