OXFORD, Ga. – Members of the Oxford metropolis council unanimously authorized town’s working finances for the 2026 fiscal yr (FY26) on June 2.
Town has budgeted a complete of $6,033,406, which is up practically $500,000 from final yr. Nonetheless, they’re additionally anticipating a income of $6,033,892, leaving town with a small revenue of just below $500.
Presently, Oxford is projecting a precise match of revenues and expenditures for the overall fund steadiness at $2,259,266 every.
Town anticipates curiosity revenues of $150,000, a $25,000 improve from the FY25 finances however down from the $178,000 that has been collected up to now this yr.
An insurance coverage premium tax verify of $230,000 is anticipated. This verify is a one-time cost every year based mostly on property values.
Nonetheless, Oxford is anticipating a big drop off in nice and forfeiture funds, budgeting simply $25,000. Whereas town anticipated $75,000 in funds for FY25, it has reported receiving solely $14,152 by means of January, the midway level of the fiscal yr.
To match revenues and expenditures for the overall fund, town is transferring $67,250 from water and sewer, $65,384 from strong waste and $373,482 from electrical.
When taking a look at normal fund expenditures, most departments noticed slight will increase in projected spending. The most important expenditure improve belongs to the police division, with at-or-near 100% will increase on group insurance coverage and new uniforms.
Essentially the most persistent improve in expenditures all through the finances is a rise on retirement plans of 6% throughout every division.
When discussing particular departments, the water and sewer income fund is predicted to hit seven figures for the primary time, with an anticipated whole of $1,030,700. That is partly because of the 5% improve in water-sewer gross sales.
Projected expenditures for the division noticed a big improve, too, rising from $807,653 to $962,964.
The remaining departments noticed the next authorized numbers:
- Electrical: $2,408,200 in revenues; $2,137,444 in expenditures
- Strong waste: $233,000 in revenues; $167,166 in expenditures
Along with town’s working finances, council members additionally authorized a capital finances of $6,226,975. This finances is used for long-term tasks that aren’t integrated within the working finances, with revenues coming from capital funds, SPLOST allocations or different exterior sources.
A few of the deliberate tasks from this finances are the “2 Trails Undertaking” (with the most important price ticket of over $2.8 million), the Catova Creek restoration and Greenway Path ($1.02 million) and the Emory Avenue sidewalk substitute ($617,079), amongst others.
