From the Shelbyville News:
Using their five years of experience, Fairland town officials spent Tuesday night hard at work in a special meeting as they began preparations for the 2014 budget cycle.
Earlier this month, talks began with the town officials preparing to put money aside for its latest investment — its own building. Town board president Rick Daily said with the building will come various expenses, including utilities, maintenance and upgrades and heating and cooling."We've begun going over the details and projections of where we need to be. After five years, we have an idea of how it should be and what it should look like. The last five years have provided the town with plenty of revenue and we are in good shape financially," he said.Initial indications have the town of Fairland spending approximately $48,000 out of its general fund, according to Daily. The majority of the expenses will be in maintenance."What we have on hand in our revenue will be more than enough to cover those expenses," he said.
The town receives state tax revenues through gas, cigarette, local road and street and motor vehicle highway taxes. Fairland also receives county tax revenues from property, excise and wheel taxes, as well as county economic development income tax and county adjusted gross income tax. The icing on the cake is the tax funds the town receives from the racino and an annual riverboat tax payment.
Daily mentioned Fairland officials will ask for $20,000 out of its highway fund and will tap the cigarette fund for the first time.
"We are going to ask for $4,000 from the cigarette fund for building improvements. We know we are going to have to make improvements at some point to the existing facility," he said.
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http://www.shelbynews.com/articles/2013/05/23/news/doc519d138a1f146762395702.txt
