The current economic crisis has many individuals and government entities feeling the pinch and the Town of Silverhill is no different.
The Silverhill Town Council voted unanimously to pass its 2009 budget on Monday, showing a nearly $100,000 budget deficit.
With expenditures totalling $943,225 and revenues of a projected $845,817, the town has a projected budget deficit of $97,408 for the coming year.
The town’s general fund is operating with a $18,758 deficit, with expenditures of $553,375 and $534,617 in revenue, while the town’s water and gas department has a budget deficit of $78,650 with expenses of $389,850 to revenues and $311,200.
They also adopted Ordinance No. 386 to provide for an increase in garbage rates as approved at the council’s Feb. 16 meeting.
Will the increase fee for garbage cover their deficit?