The newest operating budget, tax rate and audit for fiscal year 2025 were approved at the regular meeting of the DeKalb city council Tuesday night.
Councilmember Mollie Blackmon was not in attendance.
The council approved a $0.448245 per $100 of assessed property value by a vote of 4-0. The new tax rate, which will be effective October 1, will add an additional $21,922.68 to the city’s operating budget.
The council also approved their operating budget of $2.9 million by a vote of 4-0.
The city held public hearings for both the tax rate and budget for residents to address the council on the proposed items prior to Tuesday night’s regular meeting.
The public hearing for the tax rate was held Friday, September 5, at 6:30 p.m. The budget hearing was held the following Monday at noon. DeKalb Mayor Lowell Walker said both were unattended by the public.
The council was also presented with the findings from the audit of the operating budget from 2023-2024. The audit was conducted by Leslie Winton of Wilf & Henderson.
According to the audit, the city had a daily operating expense of $2,390. At the end of the fiscal year, there was less than $53,000 remaining in their accounts.
Based on those findings, Winton told the council the city would be able to operate for only 22 days if they were to stop taking in any form of revenue.
Municipalities do not have a standard for remaining fund balanced, Winton said, however she based her recommendation on school district standards.
She stated school districts are required to have at least enough money to continue operations for at least 76 days.
In other business, the city approved hiring JSG Homes to construct three new homes for the city’s HOME Program.
Additionally, they approved a contract with American Water Works Association to complete a permit for the city’s waste water treatment plant.
