Foley Sets 2023 Budget
FOLEY -- Foley has set their preliminary budget for 2023.
At the Foley city council meeting Tuesday night, the council approved a $2.1 million budget with a proposed tax levy of just over $1.2 million.
The budget breakdown is as follows:
- General Fund: $1,657,440.00
- Fire Department: $88,700.00
- Swimming Pool: $15,850.00
- 2020 Refunding (2015 & 2011) Improvement Bond: $252,000.00
- 2015 Improvement Bond: $34,000
- EDA Fund: $91,556.00
With a total budget of $2,139,546 and an expected Local Government Aid payment from the state of $859,897, the proposed tax levy is $1,279,649.
While this levy is an increase of over 14%, administrators are quick to note that the total city tax capacity has increased by 22%, and the city is expecting an increase in local government aid of over $23,000.