The Truesdale Board of Aldermen have begun the work to assemble the city’s budget for the 2025 fiscal year with a budget work session on June 12. 

The city’s fiscal year runs from July 1 to June 30, 2026, and the budget will need to be approved by the end of this month. 

While only a proposed budget and subject to change, the document provides an idea of where the city intends to allocate funds, and what can be anticipated by residents. 

“This budget is more than a financial document,” wrote City Clerk Elsa Smith-Fernandez. “It is a reflection of the city’s core values, thoughtful stewardship and ongoing commitment to transparent, service-driven local government.”

The proposed budget anticipates $1,824,644 in revenue for the city, including roughly $450,000 in property tax revenue and an additional $210,000 in utility tax revenue. 

That figure is a slight reduction from estimated revenues of fiscal year 2024, in which the city brought in just under $2.1 million. 

According to the proposed budget, the city’s beginning balance for the year in reserves is just over $600,000, a reduction from the previous year’s beginning balance of roughly $963,000. 

It is important to note that as this is a proposed budget, these figures are preliminary and subject to change before the final budget is approved by the board of aldermen. 

The city is projected to break even in fiscal 2025, with estimated expenses of $1,824,644. That figure is a slight decrease from last year’s estimated expenditures of just under $2.1 million but a significant increase from fiscal year 2023’s actual expenditures of just under $1.3 million. 

The largest proposed increase is in personnel costs, which are proposed at roughly $642,000, an increase from an estimated $586,000 in fiscal 2024 and roughly $465,000 in fiscal 2023. 

These figures and the details of the budget will be discussed further before their approval at the June 25 board of aldermen meeting.