City of Oxford Aldermen Approve $31M Budget With 1 Mill Increase

By Alyssa Schnugg
Staff writer
alyssa.schnugg@hottytoddy.com

The Oxford Board of Aldermen approved the $31 million 2018-2019 fiscal year budget during its regular meeting Thursday that included a 1-mill tax raise.

No other last-minute changes were added to the budget before Mayor Robyn Tannehill called for a vote.

The aldermen have met several times throughout the summer in budget meetings to rehash the budgets submitted by each department.

The 1-mill raise will take the millage rate to 31.22.

The General Fund is broken down into the following categories:  Personnel Services at 65 percent, or approximately $19 million; Supplies at 12 percent or approximately $3.6 million, Other Services at 18 percent or approximately $5.4 million, Capital Outlay at percent or approximately $1.1 million and Debt Service at 2 percent or approximately $637,000.

The city millage rate, combined with the Oxford School District millage, 62.08 and 0.46 of a mill for the Vo-Tech bring the total millage rate for Oxford residents to 93.76.

Revenues
The projected revenues, which come from fines, forfeits, governmental services, license and permits, ad valorem taxes and sales taxes, is projected to be $27,624,024 with $3,329,032 in cash on hand expected to be rolled over from this year’s budget. Expenses are $30,095,056 and include a 1 percent cost-of-living raise for city employees.

Taxes bring in the most revenue with $9,194,417 projected for 2019. Ad valorem taxes are expected to bring in $7,386,910 and sales tax should bring in $9,136,000. Some other revenue sources include water and sewer bills, recycling and the city’s swimming pool.

Expected expenditures
The biggest chunk of change out of the budget goes to the Oxford Police Department that submitted a budget of $7.7 that included purchasing nine new patrol cars and hiring six new officers. The Fire Department has a $5.6 million budget that includes a new fire station in Oxford Commons. The Highways and Streets Department has a $3.6 million budget.