The Tyrone Town Council on June 23 adopted the FY 2021 General Fund budget totaling approximately $8.85 million. The new budget represents a decrease of more than $3 million over the current year due to bonds from FY 2020 associated with the construction of the new Tyrone Municipal Complex.
The FY 2021 budget totals $8.847 million. That compares to the FY 2020 budget that totaled $12.04 million, with the largest difference coming from a general obligation bond through which the new municipal complex is funded. The 20,000 sq. ft. building on Senoia Road across from Shamrock Park is expected to open in the fall and will house Town Hall, the Tyrone Police Department and the Tyrone Municipal Court.
On the revenue side, the 2021 budget reflects an expected increase in property taxes at $1.2 million, up from $1.09 million this year.
When it comes to sales tax, the coming year is projected to show a decrease, with the 2020 budget showing $1.6 million compared to the $1.2 million expected for 2021.
Looking at all taxes combined, the 2020 budget showed a $4.22 million total, while the new budget has all taxes at $3.9 million.
On the expenditures side, salaries and benefits across all town departments were essentially the same as the current budget year.
Also with expenses, road paving and repair, under the purchases and contracted services section, increased from $270,000 in 2020 to $453,000 for 2021. Beyond that, nearly all other town departments were just above or just below the amounts allocated in the 2020 budget.