Posted: 8/21/02

Linwood sets tax levy for 2003

Alice Pickering
Linwood Area Reporter

In what must be one of the shortest annual meetings on record, residents attending the Continuation of the Annual Meeting, unanimously approved the Linwood Township levy for 2003 in the amount of $1,031,677.

Stated budget policy of the Linwood town board is to maintain fund balance reserves of between 50 and 100 percent of the estimated annual expenditures for operating funds for each department.

With certification of the levy, adequate reserves will be maintained for General, Road & Bridge, Fire, Senior and Parks. Residents reviewed the printed budget and proposed levy but had no questions for board members or Auditor David Stene.

The 2003 budget is $1,099,127. Estimated $167,450 non-levy revenue is anticipated for 2003. For the first time, in 2003, the township has included a line item for Capital Improvements in the amount of $100,000. This results in the required levy of $1,031,677.

Projected ending fund balance for 2002 is $877,107. With the approval of the 2003 levy, the ending fund balance for 2003 would be $977,107.

The date of the next annual meeting was set for 8:15 pm, Tuesday, March 11, 2003.

Discussion of a township contribution to the construction of the new East Central Branch Library in Wyoming was placed as an agenda item for the last meeting in November 2002.

The meeting was called to order at 7 pm and adjourned at 7:15 pm. Nineteen people attended. As noted at the Annual meeting, March 2002, there are 2,861 registered voters in Linwood.

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