The City Council of Crossville met in a special called meeting today and passed ordinances to amend the fiscal year 2024-2025 budget and adopt the fiscal year 2025-2026 budget and tax rate. The 2024-2025 budget amendment adjusted municipal revenues and expenditures, allocating $25,000 for an office building and facility maintenance and $2,200,000 for the Sports Authority, both funded by the General Fund’s net position, and $50,000 for water and sewer line maintenance and wages, funded by the Water and Sewer Fund’s net position.

The 2025-2026 budget ordinance projects General Fund revenues at $36,525,761, with expenditures of $36,164,597, resulting in a fund balance of $25,175,580 (69.6% of appropriations). Other funds, including State Street Aid ($429,000 revenue, $504,000 appropriations), Drug Fund ($22,000 revenue, $80,000 appropriations), Economic Development ($236,200 revenue, $236,000 appropriations), and Water and Sewer ($11,329,750 revenue, $10,511,422 operating expenses), were also detailed, with respective fund balances projected for June 30, 2026. The ordinance outlines $13,864,250 in pending capital projects, fully financed by estimated revenues or reserves.

The property tax rate for fiscal year 2025-2026, as set by both the budget and General Revenue Ordinance, remains unchanged at $0.6059 per $100 of assessed value, avoiding any tax increase. These ordinances ensure compliance with Tennessee’s Municipal Budget Law, requiring appropriations not to exceed available funds and mandating a detailed financial plan.