SHERMAN - For the fourth year in a row, Sherman Village residents will not see a tax increase, board members learned last Wednesday, April 3 as they approved a budget for 2014.
Sherman Mayor John Patterson said careful money management allowed the village to keep a zero percent tax increase. He credited village staff members with cutting more than $30,000 in unnecessary spending. The money saved went into certified deposit accounts, he said.
"We have been able to hold the line now for more than four years," Patterson said. "We have found places we could save money that were overlooked."
Photo by David Prenatt
Sherman Village Trustee Donna Higginbothom looks at a plaque honoring Bill Wiggers for 22 years of service to the village as trustee and deputy mayor.
An example of this was the board's decision to pay off $43,000 still owed from the purchase of a fire truck, thereby saving more than $11,000 in interest, Patterson said. The village can pay at least $40,000 of this without having to revert to funds from a CD, he said.
Total revenue for 2014 is projected to be $313,307, which is a decrease of more than $4,000 from 2013. Property tax revenue is expected to decrease about $3,000 and sales tax revenue is anticipate to drop $9,000. Revenue from franchise fees and fire contracts are expected to increase.
Total expenditures were projected to be $313, 307. This is nearly $4,000 less than the 2013 budget.
In other business, the council will seek bids to re-insulate the shared highway building. Patterson said the insulation was not installed correctly, and the building develops ice chunks that can fall unexpectedly.
"If you've got a problem and you know you've got a problem and you don't do anything about it, well that's gross negligence," Patterson said. "Regardless of saving money, we have to remove ourselves from liability."
The village will pay for one-third of the cost of the project, and the town will pay the other two-thirds, Patterson said.
The village approved taking part in a Community Connections at Findley Lake, a program for area senior citizens. The organization will seek to connect older residents with existing program to provide services such as assistance with prescriptions, help with groceries and check-in calls so seniors can remain safely in their own homes as long as possible.
Patterson also showed board members a plaque honoring Bill Wiggers for 22 years of service as a village trustee and deputy mayor. The plaque will be presented to Wiggers at a later date.
Donna Higginbothom and Brett Cook were sworn in as new village trustees.