The City of Shelbyville has some budgetary loose ends to tie up as the year ends, and officials are hoping they won't see any more financial holiday surprises.
The city has had about $1 million in end-of-year costs that the council and administration have to find ways to pay. The city's total 2012 budget was about $17.6 million.
The most pressing loose end is $550,000 loan the city's wastewater utility gave the city last year to help balance the city budget, which is due to be paid by Dec. 30.
The city is unlikely to pay the loan back with the $2.8 million that's in the racino fund, Mayor Tom DeBaun said.
Clerk-Treasurer Frank Zerr said the city has several such funds with some money in it, but they're not easy to access.
"It would have to be researched," he said. "I don't think you can just take it out."
Another option is to just use wastewater money to pay off the wastewater loan.
The council recently voted to use racino money to pay as much as $450,000 to the Indiana Public Retirement System, which was an unexpected cost that popped up at the end of the year when the state changed the way it requires municipalities to pay into the system.
Council members were frustrated because most municipalities had known since last year that a change could come soon. Shelbyville's council just found out about it last month.
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http://www.shelbynews.com/articles/2012/12/09/news/doc50c260fbba4ba742355676.txt
