(5/14) The Thurmont council adopted, in a 4-1 vote, the proposed 2021 town budget for FY-21 (which begins July 1st) and tax-rate at their May 12 meeting.

Commissioner Marty Burns voted against the budget, indicating that, given the state of affairs regarding the impact of the coronavirus, and that it could affect projected funding, he did not feel it was wise to include some line items, such as extra salaries, bonuses, and merit increases. "I'm concerned we are not taking into account the real impact (of the loss of state grants, loss of highway user-revenues, and loss of income tax revenues)."

During the May 5 meeting, Chief Financial Officer Linda Joyce recommended that the town's current tax-rate of .2992 per $100 of assessed value be maintained.

"While we are not really seeing an increase in our (property) tax rate, our assessments are going up, so you will see a slight increase in the tax bill of .2992 per $100 of assessed value." As a result, the revenue will increase $23,603, resulting in a total tax revenue of $1,681,374 for FY 2021.

As an example, a property assessed at $100,000 would see an increase of $4 in 2021 in their tax bill. Joyce said there is a cumulative worth of $561,957,462 in taxable property within the municipality.

"It's very, very small but it does give us the opportunity to recognize a little more revenue, not much, but to keep things constant with cost of things (going up)," she said.

Regarding the general fund aspect of the 2021 budget, revenues are anticipated to bring in $4,298,000, while, projected expenses amount to $4,031,000, producing a budgetary excess of ~$267,000 in the general fund. From the budgetary excess, $265,900 is further deducted for capital budget expenditures applied to general fund use, resulting in a surplus of ~$1,235.

Increases in funding out of the general fund included a 37-percent increase in administrative costs, a 30-percent increase in public safety, and 16-percent increase for highways and streets, a 7-percent increase on parks and recreation, and a number of small increases.

As to the water fund, anticipated revenues for 2021 amount to $984,435, while expenditures are projected at $705,666, producing a budgetary excess of $278,769. As per the general fund, $167,000 is further deducted for capital budget expenditures applied to water fund use, resulting in a surplus of $111,769.

The wastewater fund revenues have been set at $1,642,450, with expenditures projected to be

$41,453,524, resulting in a surplus of $188,926. The electric fund revenues are expected to garner $6,476,305 in revenues, with projected expenses of $6,335,655, creating a budgetary excess of 140,650. Additionally, $115,000 is further deducted for capital budget expenditures applied to water fund use, resulting in a surplus of $73,926.

As to the electric fund, anticipated revenues for 2021 amount to $6,476,305, while expenditures are projected at $6,335,655, producing a budgetary excess of $140,650. Additionally, $119,800 is further deducted for capital budget expenditures applied to water fund use, resulting in a surplus of $20,850.

Mayor Kinnaird said, "The town may experience a drop in funding revenue as a result of the financial impact of the virus during the upcoming budget cycle, and that this may be reflected in a drop in county and state-funded financial support in the form of grants and other anticipated revenue stream."