By Tim SchmidtRecord Managing EditorThe new budget for the Village of Innsbrook includes an expense for the first loan payment related to the Highway F widening project.The village has allocated $283,867.40 in funds for the project, which is on schedule to be completed by the end of the month.Of the $283,867.40, Innsbrook appropriated $22,541 for the loan payment to the Missouri Transportation Finance Corporation and $254,084 to N.B. West Contracting, the contractor that was awarded the project bid.The village will also pay $7,242.40 to Horner and Shifrin, which is the remaining balance for engineering fees related to the project.The Highway F project consists of constructing 4-foot-wide, 6-inch-thick aggregate shoulders which will require extending crossroad culverts and grading roadside ditches. It covers 1.6 miles from the Highway M intersection to Oakwood Estate, which is just north of the entrance to Innsbrook Resort.The widening project has been a priority for years, according to Innsbrook officials, who believe a wider highway will be safer for motorists and cyclists in the area. The project deadline is Aug. 1.“The Highway F project is moving along,” Administrator Chris McCormick said. “The majority of it will be done (this) week.”Innsbrook is anticipating receiving $560,168 in revenues and $391,659 in expenses in the 2014-2015 budget year. The new fiscal year began July 1 and ends June 30, 2015.The village anticipates a slight increase in sales tax revenue this year to $31,000. Officials averaged sales tax receipts from the past three years and included a small bump due to events that are planned at Innsbrook Resort. The village entered the last month of the 2013-2014 fiscal year with $26,916 in sales tax revenue.Innsbrook also is projecting to receive $69,500 in real estate and property taxes, $3,000 in permit fees, $19,200 in the motor fuel tax fund and $284,913 in the motor vehicle/fuel fund account.For expenditures, a large portion that will be paid out is for the Highway F project. Innsbrook officials have also allocated $2,000 for the Neighborhood improvement program, which allows residents to apply for funds. Three applications were received this year, which include plans for rock on gravel roads and landscaping.Last year no funds were spent for the program.The Innsbrook budget anticipates a small increase for employee payroll, taxes and medical insurance. The administrator will continue to be paid $21.36 per hour and work 24 hours a week. Trustees have agreed to increase the monthly allowance for medical insurance to $555 from $525.Professional services are budgeted at $7,500. That includes $6,000 retainer fee with the village attorney and $1,000 for the village planner, who will be paid at an hourly rate and will be used on an “as needed” basis, officials said.Other expenditures that have been budgeted for include $3,065 to cover training and mileage and $2,000 to send out a spring and fall newsletter.First loan payment included in new budget