Panama Village Board Approves 2014-15 Budget

PANAMA – The village of Panama board unanimously approved its 2014-15 budget.

On Tuesday, the village board met to discuss and vote on the proposed budget, which totaled $110,127. In 2013-14, the budget totaled $109,387.

According to Charles Loveless, village mayor, there were only minor changes from the previous budget.

The village will be receiving $32,000 in state aid from the Consolidated Local Street and Highway Improvement Program, a slight increase from 2013-14, when the village received $28,604.

Panama nearly doubled its snow removal budget, from $900 in 2013-14 to $1,500 for 2014-15.

The 2014-15 budget also details that the contractual expense for the mayor has been lowered from $150 to $50, from $150 to $75 for the treasurer and from $100 to $50 for the clerk. The contractual expense for snow removal was lowered from $1,200 to $250 and $2,000 to $1,500 for community beautification.

The village budgeted $250 for contracted services for inside the village office building. In 2013-14, $1,800 was budgeted for building maintenance.

Gregory Ireland, trustee, noted that the 2014-15 budget will not increase taxes for village residents.

The village plans to raise $26,337 through property taxes. The taxable assessment for the village is $14,090,210.

The tax rate per $1,000 is set at $1.869.

The board discussed the possibility of upgrading the village’s streetlights to be more energy- and cost-efficient.

According to Loveless, the village of Mayville is in the process of changing streetlights to LEDs.

Jonathan Weston, trustee, agreed that rising energy costs are something to consider.

The board unanimously approved the budget.

No residents were in attendance.