Valley approves $18.4 million budget
Published 4:00 am Wednesday, October 24, 2018
VALLEY — On Monday, the City of Valley unanimously approved an $18.4 million budget for the 2018-19 fiscal year. It’s based on $9.7 million in short-term spending, $7.5 million in long-term money and $1.4 million in federal grants.
The council discussed the proposed spending plan in two work sessions, where Mayor Leonard Riley stressed the importance of building back the city’s reserve after a busy period over the last four years of implementing some major upgrades at Valley Sportsplex, building a new senior center and having some major road paving in the city. For the first time in five years, there won’t be an employee raise this year.
“We have a few capital projects,” said the mayor. “We will be spending $325,000 on a new po0l pack and $100,000 in pool decking and flooring at the Community Center’s indoor pool. We will also be spending $16,000 on new computers and $50,000 for a new roof for the Valley Police Department.”
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The Sportsplex upgrades and the construction of the new senior city each cost around $2.4 million. The city was able to pay for those projects through cash flow over two years for each project.
Also during the past year, the city took care of some much-needed road paving at a cost of around $1.8 million.
“We need to build back our reserve this year,” the mayor said. “Our balance shrunk quite a bit in the last year.”
The grants to be received by the city in the coming year will go to some improvements on the CV Railway Trail and to infrastructure needed for the John Soules Foods project.
On Monday, the council approved a resolution to accept a $277,200 grant through the Alabama Department of Economic and Community Affairs for the CV Trail. It’s the first major money infusion that’s been received for the Trail in 23 years. The city will provide $69,300 in matching money to bring the total amount to $346,500.
The city has $750,000 in grant money from the Community Development Block Grant program and the Appalachian Regional Commission that will be going to sewer line improvements needed for the start up of John Soules Foods in Valley. Bond money will help with the $1.6 million total cost.
The computer equipment will be purchased from A-Com Integrated Systems, Columbus, Ga. The council approved a resolution at Monday’s meeting to do that.