Town of Walkersville FY 2015 Budget

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cropped-townseal1.jpgTown of Walkersville Commissioners voted on May 28, 2014 to adopt a balanced $3,083,496 budget for the 2015 fiscal year.  The town did not increase tax rates, but was able to increase funding to some projects than originally planned in the budget introduced May 14th.

The Town of Walkersville plans to receive $3,083,496 in revenues.  This represents an increase of 3.48% in revenue from last year’s budget.  The majority of funds come from property taxes ($835,195 = 27.09%), tax equity ($723,189 = 23.45%), and income taxes ($706,700 = 22.92%).  The budget expects that every revenue stream will increase except for Interests & Dividends (15.4% decrease), Mortgage Interest on Walker Farm (3.31% decrease), and Liquor Licenses (20% decrease).

The Town expects Admissions & Amusements income to increase the most with a 17.5% increase.  Franchise fees an Business Personal Property Taxes follow in increased revenue with 8.33% and 8.05% increases, respectively.

The Town of Walkersville budgeted for a 4.95% increase in expenses in the 2015 fiscal year.  A reserve of $41,800 from fiscal year 2014 and a smaller reserve ($296,093 less) cover the difference between the increase in income and expense.

The largest expenditures include Maryland State Police ($527,926 = 17.12%), Town Employee Salaries ($495,750 = 16.08%), and Capital / Design / Construct Glade Road with a Curb ($421,000 = 13.65%).   Those expenses comprise 46.85% of budgeted expenses.  The Police and Employee salaries increase 2.33% and 1.88%, respectively.

The Glade Road project is a new expense on the books, and represents the largest increase in expenses.  The town expects quite a few items to see substantial increase in costs, but they still each represent a fraction of the budgeted expenses.

    • Street Maintenance – 50% (1.95% of budget)
    • Truck & Equipment Expenses – 44.44% (2.11% of budget)
    • Economic Development Commission – 33.33% (0.65% of budget)
    • Parts, Tools, and Supplies – 33.33% (0.26% of budget)
    • Postage – 33.33% (0.05% of budget)
    • Dues & Subscriptions – 25% (0.08% of budget)
    • Office Supplies & Expenses – 16.67% (0.23% of budget)
    • Fire Company Contribution – 16% (0.47% of budget)

The budget documents provided to shows that as of the end of the third quarter, 78.63% of projected income was collected, and 44.55% of budgeted expenses were paid.  At the close of the last quarter, the Town of Walkersville showed a $1,033,878.12 reserve.  That reserve is more than 24 times greater than budgeted and 35.19% of FY 2014’s budget.  At the start of the last quarter of FY 2014, the Town has a substantial amount of money left in its budget.  A significant number of expenditures remain outstanding.

In all, the budget balances, but leaves 78.16% fewer dollars available for unexpected expenditures.  That said, the spending during 2014 may leave a significant reserve.  The design and construction of Glade Road with a curb project does not represent an ongoing expenses, and comprises 13.65% of the budget.  That provides Town Commissioners with a sizable amount of funds for future projects and continued increases in expenses in 2016. provides this PDF, Walkersville FY 2015 Budgets, from The Town of Walkersville. only added the percentages for references.
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