PUBLIC NOTICE – City of Baneberry, Tennessee, Adopting the Budget for the Fiscal Year Beginning July 1, 2025, and ending June 30, 2026 – Public Hearing on Monday, June 16, 2025
Public Notice
The City of Baneberry, Tennessee hereby announces the following:
A Public Hearing on Monday, June 16, 2025, at 6:00pm for Ordinance 2025-14: An Ordinance of the City of Baneberry, TN Adopting the Budget for the Fiscal Year Beginning July 1, 2025, and ending June 30, 2026. Included in Ordinance 2025-14 is a proposed $0.10 increase to the current tax rate of $0.4463, which would result in a new tax rate of $0.5463 per $100 of assessed value.
|
FY 2023/2024 Unaudited |
FY 2024/2025 Estimated |
FY 2025/2026 Proposed |
|
|
GENERAL FUND REVENUES |
|||
| Local Taxes |
$234,770 |
$239,711 |
$278,000 |
| State Taxes |
72,480 |
74,127 |
73,765 |
| Other Sources |
123,739 |
147,096 |
136,000 |
|
Total Revenues |
$430,989 |
$460,934 |
$487,765 |
|
GENERAL FUND EXPENDITURES |
|||
| Salaries
Debt Service |
$61,053 38,187 |
$92,941 38,232 |
$98,500 38,249 |
| Other Costs |
156,452 |
329,130 |
351,016 |
|
Total Expenditures |
$255,692 |
$460,303 |
$487,765 |
| Beginning Fund Balance |
$1,244,516 |
$1,419,816 |
$1,420,446 |
| Ending Fund Balance |
$1,419,816 |
$1,420,446 |
$1,420,446 |
|
STATE STREET AID |
|||
|
State of TN-Revenues |
$18,292 |
$18,384 |
$18,325 |
| Other Revenue |
391 |
255 |
250 |
|
Total Revenues |
$18,683 |
$18,639 |
$18,575 |
|
Total Expenditures |
$18,505 |
$46,764 |
$18,575 |
| Beginning Fund Balance |
$51,915 |
$52,093 |
$23,968 |
| Ending Fund Balance |
$52,093 |
$23,968 |
$23,968 |
A Special Called Meeting immediately following the Public Hearing on Monday, June 16, 2025, for the following agenda:
-
2nd Reading of Ordinance 2025-14: An Ordinance of the City of Baneberry, TN Adopting the Budget for the Fiscal Year Beginning July 1, 2025, and ending June 30, 2026
-
2nd Reading of Ordinance 2025-15: An Ordinance Amending the 2024-2025 Fiscal Year Budget, Budget Amendment #3
- East Tennessee Development District Contract for Fiscal Year 2025/2026
- Roads Commission Appointment
Both the Public Hearing and the Special Called Meeting will be held at the Baneberry City Hall Community Center, 521 Harrison Ferry Road, Baneberry TN 37890. For additional information, call (865) 674-0124.
