The City of Albany now has a 2018-19 fiscal year budget in place, following action taken at a special meeting of the city council on Friday morning, June 14.

During the brief, one-item meeting, the council unanimously approved the coming fiscal year’s budget of just under $4.1 million–$4,097,745 to be exact.

The overall general budget, with an estimated $135,000 in property tax revenue, amounts to $1,067,000 of the total general fund account, which also includes $9,000 in interlocal governmental revenue.

Those numbers are based on estimated income from business/occupational license; insurance premium; franchise fees; vehicle taxes; cable franchise and fire membership fees, which is estimated at $923,000.

As is always the situation with local municipalities, the majority of the budget pertains to water revenue, which entails well over half of the receipts and expenditures. The water department estimate is $2,489,887.

The total budgeted income, other than the general fund, is $,3,030,754, or about 75 percent of the total budget.

Other “fund” accounts, other than the water department, includes the general fund carryover, KLEFPF, municipal road aid, LGEA (Local Government Economic Assistance) and sewer revenue, with the latter being estimated at $366,027.

The overall budget is just under the current 2017-18 fiscal year total and is subject to amendment, depending on financial situations and needs throughout the fiscal year.

Albany Mayor Nicky Smith did not say the budget reflected a small salary increase for city employees and annual contributions to such entities as the park/recreation board, 4th of July fire works show and others.

The next regular meeting of Albany City Council is scheduled for Tuesday, July 3 at 5 p.m. at city hall and is open to the public.