PRESTONSBURG — The city council unanimously approved an $18 million budget for the new fiscal year, beginning July 1.
The city council held a second reading of the budget ordinance Monday night, after the first reading was conducted June 11.
The budget received little discussion during Monday’s meeting, except from Tourism Director Fred James, who followed a presentation about the success of the recent Country Music Highway Road to Fame competition by telling tourism does not have a deficit, as had been indicated in an earlier draft of the budget.
“We’ve never had a deficit,” James told the council.
The updated version of the budget removes references of a “tourism deficit,” renaming the $25,000 figure a “contingency,” instead.
Over half of the city’s budget will be spent on utilities, which receive $9,248,417 under the plan. Prestonsburg City’s Utilities is expected to contribute $8,256,611 of that amount.
Most of the remainder of the budget, $5.3 million, will be spent on city services. Of the rest, the Mountain Arts Center is slated to receive $1.1 million; tourism, $964,000; Stonecrest, $804,000; and Archer Park, $440,000.