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Hancock council takes first look at proposed $5 million budget

by Geoff Fox

Hancock officials took a brief look at a preliminary budget that proposes an operating budget over $5 million and a general fund over $4 million.

A council meeting held Monday evening, July 26, was mainly for the purpose of looking at the budget.

Mayor Tim Smith read through each particular item for council members and the audience. He did not give exact numbers for each budgeted item.

He noted the general property tax could see some inflation depending on other amenities coming to town.

Licensing tax, such as alcohol licenses, could also see some changes as there have been some new licenses applied for.

Hotel/motel tax could also go up this fiscal year, Smith predicted.

Smith said the Parks and Recreation budget would likely see pool expenses budgeted not in this fiscal year but in FY 2023.

Overall, the operating budget for the town would be $5,685,651 and the general fund would be $4,836,701, Smith said.

He didn’t provide copies of the preliminary budget and said there would be amendments made to the budget as things change with the purchasing and selling of buildings from Harvest, as well as the staffing changes within the Police Department.

No actions were taken to approve the proposed budget.

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