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Home News Local

City commissioners approve FY 2024 budget

Vince Tweddell by Vince Tweddell
August 3, 2023
in Local, News, Politics
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(Published print edition June 28, 2023)

The Henderson Board of Commissioners at its June 13 meeting approved a fiscal year 2024 budget with General Fund revenues expected to total $36.3 million.

Expenditures are budgeted at $38.8 million, said City Finance Director Robert Gunter. 

To make up the $2 million-plus difference, City Manager Buzzy Newman recommended money be pulled from reserves in the coming year’s budget, which would leave the fund balance at $15.9 million at the end of the fiscal year.

Gunter said the Fund Balance will stand at $18.2 million at the start of the fiscal year in July. Gunter said the city’s budget is traditionally set up by planning for lower revenue and higher expenditures.

Newman wrote in a letter included with the budget document that the fund balance ($15.9 million) represents about 40% of expenditures in the next fiscal year and allows the city to maintain adequate reserves.

The General Fund of the city’s annual budget is the general operating fund of the city. Everything flows through the General Fund, Gunter said.

The city budget, though, also includes numerous other funds. The budgeted total for all funds is $117.356 million. Of significant interest in the next fiscal year is the Construction Fund, which totals $25.6 million.

Some high-profile projects will be paid next year through this fund. Two of those are the new sports complex at $13.2 million and the start of Fire Station 1 at the corner of Second  and Adams street at $2.9 million.

Other approved funds of the budget include:

 • Natural Gas Fund, $22.54 million

 • Health Reimbursement Arrange, $250,000

 • Civil Service Pension Fund, $80,000

 • Police and Fire Pension Fund, $333,000

 • Cemetery Fund, $586,000

 • Health Insurance Fund, $9.256 million

 • Bond Fund, $8.33 million

 • Public Way Improvement Fund, $2.162 million

 • HART Operating Fund, $1.839 million

 • Sanitation fund, $4.838 million

 • Emergency Communications Fund, $1.851 million

 • Tourism Communications Fund, $265,000

 • Community Development Fund, $680,000

 • Police Investigations Fund, $102,000

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