With the end of the year approaching, Knox Clerk-Treasurer Jeff Houston told the city council this week that he will soon begin working on the year-end reports to ensure all fund balances are in the black, and a number of fund transfers will need to be performed to guarantee that is the case.
Houston explained that the city underestimated what their electric bill would be, because NIPSCO recently raised their rates approximately three percent this year, causing the fund to come out $15,000 short. Further, Houston said the city will need to put money into the Community Center fund in the amount of roughly $18,000 to get that fund above zero, as they do every year, which will also give them a couple thousand dollars to start the new year.
Houston said the council will have to make some adjustments when the budget notice arrives and plan ahead as far as what projects to prioritize, such as a new marquee for the Community Center. He said that while that is not a necessity, a number of people have been asking for such an upgrade. On that note, he also pointed out that the Community Center building will soon need a new roof, but that may be postponed for a few years – but not too long, he said.
Mayor Rick Chambers said he will check into prices for marquees for the Community Center and present them at a future meeting.