Highland Heights Budget Includes General Fund Surplus, Overall Deficit
Finance director says this year is about keeping spending "tight"
Though Highland Heights' 2013 budget includes a deficit, the fund most vital to services is expected to finish the year with a surplus.
City council approved the budget this, projected to end the year with a $148,077 deficit. The city expects to bring in $17,549,104 in revenues while spending $17,697,181.
The general fund projects a $7.6 million balance and a $161,000 surplus, finance director Joe Filippo said.
"(Mayor Scott Coleman's) goal is always to have a balanced budget," Filippo said. "The budget does include slight increase in wages, but negotiations are not finalized but that could change."
City officials plan on meeting with employee union representatives and lawyers in late April, Filippo said.
Similar to Mayfield Heights, Highland's deficit includes losses to from real estate and estate tax receipts. Filippo said the city's estate tax balance was about $833,000 at the end of 2012. The city will receive about $500,000 less this year, following the Ohio Department of Taxation's estate tax repeal.
While Filippo said the city's mantra for this year is "tight" spending, he said various departments may not spend the amounts listed in this year's budget.
"These are just projections," he cautioned. "Do they always spend what they ask for? Rarely.
"It's about maintaining services at the level we need to and watching everything we do."