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05/01/07 - Budget Message 2007 - 2008

The Village of Akron has passed the 2007-2008 budget during a special meeting on May 1, 2007 for the fiscal year beginning June 1, 2007 and ending May 31, 2008.

General Fund:

The budget holds the property tax rate the same as it was last year at $5.87 per thousand. To keep the tax rate stable, we will be using unappropriated fund balance to balance the budget. The refuse rate will remain $41.00 per quarter based on the new refuse contract that the Village of Akron signed with Modern Disposal that went into effect on January 1, 2007 and expires on December 31, 2008. Also included in the budget is needed equipment for Public Works to be financed over 5 years and for upgrades to the Village Hall for repairs to replacing the trim around the building.

Water Fund:

The current water rates were increased $0.90/1000 gallons across the board. The new water rates will be as follows: Inside Village, minimum, first 5,000 gallons - $33.75 with the excess rate per 1,000 gallons - $6.75. Inside Industrial, minimum, first 100,000 gallons - $675.00 with the excess rate per 1,000 gallons - $6.75. Easement customers, minimum, first 5,000 gallons - $39.25 with the excess rate per 1,000 gallons - $7.85. Outside Village customers, minimum, first 5,000 gallons - $47.00 with the excess rate per 1,000 gallons - $9.40. The new rates will be reflected in our customers October 15, 2007 water bill. The average homeowner will see a $12.60 increase in their quarterly water bill. The average homeowner uses 14,000 gallons of water per quarter. The annual cost for water to the average Village of Akron homeowner is $384.75/year, which includes production, delivery, operations & maintenance, property taxes and long-term debt. When you compare other water systems and see all the different cost that make up their water rates, the Village of Akron still offers a very competitive rate. Based on the figures from the New York State Rural Water Association from the New York State Comptroller's Office the average New York State homeowner pays $600.00 / year for the cost of water.

The breakdown of providing Village of Akron water to our residents is as follows:

Sewer Fund:

The sewer rate remains $3.25 per thousand. To keep the rate stable, we will be using unappropriated fund balance to balance the budget.

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