May 14, 2025
Second and final reading of Ordinance 722-25 with public hearing for the fiscal year 25-26 budget was held at the regular scheduled council meeting held May 13, 2025 at 6pm. The budget ordinance passed second and final reading.
Ordinance 722-25 can be viewed by clicking here.
| PUBLIC NOTICE | ||||||
| The City of Algood, Tennessee, hereby provides certain financial information for the Fiscal Year 2025-2026 budget in accordance with the requirements of the Tennessee Code Annotated Title 6, Chapter 56, Section 206. The Fiscal Year 2025-2026 tax rate will be $0.3623 per one hundred dollars ($100) of taxable property. There will be a public hearing concerning the budget at City Hall, 215 W Main Street, Algood, Tennessee on Tuesday, May 13, 2025 at 6:00 pm. More info: call 931-537-9545 or www.algood-tn.com. | ||||||
| General Fund | State Street Aid | |||||
| FY 2024 Audited | FY 2025 Estimated | FY 2026 Proposed | FY 2024 Audited | FY 2025 Estimated | FY 2026 Proposed | |
| Revenues: | ||||||
| Local Taxes | $3,406,662 | $3,024,150 | $3,245,150 | $0 | $0 | $0 |
| State of TN | $679,561 | $412,400 | $493,000 | $146,608 | $131,100 | $148,025 |
| Federal Government | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Sources | $1,302,283 | $387,638 | $548,103 | $22 | $100 | $25 |
| Total Revenues | $5,388,506 | $3,824,188 | $4,286,253 | $146,630 | $131,200 | $148,050 |
| Expenditures: | ||||||
| Salaries | $1,542,725 | $1,820,742 | $1,980,107 | $0 | $0 | $0 |
| Other | $3,129,535 | $2,338,672 | $3,894,305 | $96,491 | $131,100 | $148,025 |
| Total Expenditures | $4,672,260 | $4,159,414 | $5,874,412 | $96,491 | $131,100 | $148,025 |
| Beginning Fund Balances | $6,904,175 | $7,620,420 | $7,285,194 | $328,060 | $378,177 | $378,177 |
| Ending Fund Balances | $7,620,420 | $7,285,194 | $5,697,035 | $378,177 | $378,177 | $378,177 |
| Number of FTE Employees | 38 | 37 | 38 | 0 | 0 | 0 |
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