Conservative commentator Thomas Sowell once opined, “Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets.”
Fortunately, it appears that Lusk will be able to boast both accounting ingenuity and a balanced budget. The Fiscal Year Budget, which encompasses July 1, 2013 through June 30, 2014, passed its third and final reading on Monday evening. The total budget comes to $10,321,813. Projected revenues come to $10,321,813, which breaks even with the $10,321,813 in projected expenditures.
According to Town Clerk Linda Frye, the most significant of Lusk’s projected expenditures include the airport runway lighting project, the landfill closure and construction of a transfer station, and, of course, the construction of the Plunge Swimming Pool. The pool is being financed with revenue generated by the One Percent Purpose Tax. Renewed last August, this tax is designed to generate revenue for the construction, operation, and maintenance of a public outdoor swimming pool with its related facilities.
For the complete article see the 06-12-2013 issue.
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