Keokuk 2012/2013 Budget Includes Capital
The Keokuk City Council will play “catch-up” when it comes to some capital projects.
Mayor Tom Marion says the city could not afford to purchase new vehicles or replace some heavy equipment in the current budget.
He says that will not be repeated in the budget for the fiscal year that begins July 1.
Marion says the age and condition of Keokuk’s vehicle fleet dictate spending nearly $2-million.
He says the city will try to obtain credit from local banks to pay for the capital expenses.
“As you use it, that is the only time you are charged interest,” says Marion, “so if you spend $20,000 to $30,000 on an item, that is all you would be charged interest for so it makes sense for us to do that.”
Keokuk plans to spend around $6-million dollars on capital during the upcoming fiscal year.
The airport accounts for nearly 2/3 of that, thanks to a federal grant where the local match would be 5%-10%.
The list of other projects or purchases includes:
- 2 new, fully-equipped Police Cars - $58,000
- Bullet-proof vests (1/2 of the force) - $5,000
- Fire Department Computer Equipment - $5,000
- Redo George M. Verity riverboat museum - $45,000 local match
- Front End Loader - $135,000
There is no increase projected in the city’s property tax rate for next year ($15.93).
Marion says staffing levels will remain the same while employees are in line for pay increases.
The city council is expected to hold a public hearing on the nearly $16-million spending plan early next month.