COLUMBIANA Extra income tax revenues go to general, capital funds

COLUMBIANA -- Although the city collected $50,500 more in income tax than anticipated, most of the money will be used for current expenses and capital projects, city officials said.
Council approved the transfer at a special meeting last week. Finance Director Mary Louise Dicken said that though Councilman Don Leonard wanted the additional revenue to help buy a firetruck, the city charter says any additional income tax revenue must be divided, with 42 percent going to the general fund and 58 percent to the capital improvements fund.
Part of budget
She said council must approve a budget including revenue and expenses by March 30, and buying a firetruck should be discussed as part of the overall budget, not just the surplus.
Dicken said lawmakers approved moving $45,000 of the $50,500, with $18,900 to the general fund and $26,100 to the capital improvement fund. The remaining money stays in the income tax fund.
City Manager Keith Chamberlin said much of the $18,900 will be used to cover other funds in which revenue was less than anticipated, such as the local government funds, inheritance taxes and interest from investments.