Lebanon City Council Approves Budget

Lebanon City Council approved the Fiscal Year 2024 budget during the Monday night meeting. During a Public Hearing, City Administrator Mike Schumacher went over some of the highlights. He said the city has an estimated ending balance of $17.6-million to start the new fiscal year. The City has set aside $2.4 million to the reserve funds.

There will be no salary adjustments in FY 2024, due to the fact that staff pay was adjusted significantly over the past two years. There will be a significant amount of money put into the streets of Lebanon

Capital investment from the Parks Fund will be around $775-thousand, to include improvements to Wallace Park and the Harke/Nelson Connector. There will be investment in the electric infrastructure to the tune of about $1.9-million, Wastewater will see a million in improvements, and $371-thousand in the water department. The FY 2024 budget also includes some increases in the water meter hookup fees, and a $1 increase to the service availability fee for electric service for residential customers. Overall the estimated FY 2024 City Expenditures will be just over $70-million, 41 percent of which will be for wholesale electric cost.