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.

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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

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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.