BonnerSprings.com

The 2010 budget was described as the “perfect storm” during Monday’s Edwardsville City Council meeting.

“The dollars spent on our debt is increasing, our property tax values are decreasing, and our need for service is increasing,” said city administrator Michael Webb. “All three are going the opposite direction of where you’d like them to be at this time.”

It’s a bleak outlook for the city when it comes to preparing to set the 2010 budget with several major issues stacking up not in the city’s favor. But, as council members found out, there’s nothing to do but dive in and start finding a way out.

On the administrative side of the fence, Webb said the area of most concern was the amount the city was spending on its debt service would not be sufficient in the coming year. Webb said in 2010, the city would need to start paying on the principle, rather than just the interest, on its debt jumping the number up to $900,000.

“If we don’t do anything with the mill levy, we’ll be almost $600,000 short,” he said.

The current mill set aside for debt service is 6.3 mills. If the city were to increase just the mill levy to pay for the debt, Webb said the mill would have to set at 16 mills, adding that the possibly is just not realistic.

For more about ideas suggested by the council for dealing with the budget, check back with Thursday's Chieftain.