During their last meeting on Tuesday, Jan. 28, the Wrangell Borough Assembly got to take a look at their financial situation from the past six months. The current budget, for FY 2020, was adopted last June.
As of Dec. 31, 2019, total revenue for Wrangell's general fund has been about $3.5 million, and about $2.7 million in expenditures. The general fund is currently sitting at a profit of $869,251. However, for the entire financial year the general fund is expected to bring in a little less than $6 million, but expenditures will be around $7.4 million, meaning the general fund will have a $1.4 million deficit at the end of FY 2020. The parks and recreation department is doing better than expected, according to the mid-year report, adding $139,507 to their balance. They are budgeted to end the year with $122,000. The Wrangell Sentinel reported back in June that total revenues for the borough were set at $16.62 million, with expenses of $20.12 million and an expected reserve of roughly $27 million. Borough officials went into this financial year expecting deficits in several categories.
The borough is beginning its budgeting process for the new financial year, and is considering adopting a two-year budget this time around. They approved a budget calendar during the meeting. Budget submittals are expected from city departments by mid-February, with a draft budget put together by March 23. Formal adoption of the next budget is scheduled for May 26.
During the meeting, the assembly also approved their list of state and federal legislative priorities for 2020. Federal priorities include rehabilitation or replacement of the reservoir dam, continuance of SRS and PILT payments, and sustainable management of sea otter populations. State priorities include the reinstatement of several state jobs to Wrangell, such as an OCS worker, a public health nurse, and magistrate. The assembly also voiced their opposition to a proposed closure of Wrangell's Fish and Game office in their state priorities.
Other items covered in the meeting included a first reading of a resolution creating an investment committee, approval to dispose of surplus city property, and the transfer of $7,700 from the general fund reserves to the fire department, for the purchase of a dispatch radio console.
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