No budget increase for Iola
There will be no budget increase for the village of Iola.
The village board adopted a $1.09 million budget at its Oct. 11 meeting, exactly matching Iola’s 2010 budget.
“This reflects a zero percent increase except for wages,” explained village president pro-tem Lee Johnson. “We moved money out of the vehicle equipment replacement fund so we could have a zero increase and still provide a 2 percent wage increase for village employees.”
The village’s proposed tax rate for 2011 will be $10.20 per $1,000 of equalized value, a slight drop from the 2010 mill rate of $10.30.
Total projected revenue for 2010 will be $407,312, compared to $407,244 in 2011. State shared revenue dropped to $192,615 in 2011, compared to $214,164 in 2010. Revenue increases include a state highway aid increase from $72,132 in 2010 to $76,511 in 2011, and license/permits increase to $14,000 in 2011, compared to $12,500 in 2010.
The Iola Village Library will receive $81,671 in 2011 from Waupaca County, compared to $65,933 in 2010. This will increase the library’s budget by about $15,000 in 2011.