HOPE – After the Hope Town Council approved a significant increase in funding a year ago, the town budget for next year will go up by a comparatively smaller amount.
Total revenue of $2.13 million can be expected next year – up from $2.12 million this year, Clerk-Treasurer Diane Burton said.
By a unanimous vote, the council approved both the budget and a salary ordinance that gives full-time employees a 3% raise.
Income from the property-tax supported general fund will rise from $712,617 this year to $740,168 next year (up 3.8%), according to figures supplied by Burton. However, the reserve account will remain the same at $242,000.
The fund that will experience the largest percentage increase is the local road and street fund. According to Burton, it will receive $65,000 next year – a 63% increase from 2023.
But at the same time, Hope Town Manager Jason Eckart told the council he’s concerned a significant revenue source for road and bridge repairs might be at risk.
Beginning in 2024, all local government entities in Indiana must have an Americans With Disabilities (ADA) transition plan in order to receive funds through the Community Crossings Matching Grant, Eckart said. Due to Hope’s small size, the town only has to match 25% of the amount awarded for road and bridge work.
The concern is that Hope doesn’t have an ADA transition plan. In an effort to avoid being disqualified, Eckart says he will send a letter to the Indiana Department of Transportation, which administers the matching grants. The letter will state that the town is in the process of developing an ADA transition plan, and provide a date for when it will be finished and submitted, Eckart said.
Some other funds will see modest increases. For example, the $152,000 for the 2024 cumulative capital development fund is up 7.9% from this year, while the $375,611 for next year’s economic development income tax is up 7% from 2023, the notice states.
However, the $102,226 earmarked for the motor vehicle highway fund is down 1.2% from this year. In addition, the amount received through the American Rescue Plan will drop from $460,000 to $392,556 (down 15%) and the $12,500 generated through casino and riverboat taxes is down by nearly 38%
While employee benefits will remain the same, the council did agreed to provide a Christmas gratitude bonus to all full-time employers, as well as part-timers who put in at least 20 hours a week. Those workers will receive a $250 VISA gift card, Burton said.
