Conservative Budget leaves city in good financial shape

Lebanon City Council was provided an overview of the proposed budget for the fiscal year 2023. Finance Director Kat Gill shared that the carry over’s for appropriation is around $26.9-million and she is projecting around $54-million in revenue. Appropriations will be around $67-million. Gil said the budget doesn’t contemplate any additional salary adjustments and will leave 10 positions unfunded…..

Gill said they are expecting an increase in insurance cost, and expect a 19.4 percent change in benefit costs. Gill said overall the city is in great shape financially but continues to budget conservatively, and if the economy takes a downturn, they will be able to handle it. Lebanon City Council will vote on the fiscal year 2023 budget on May 23rd.