The Eldorado City Council met at noon on Monday, August 31st, and approved the city’s 2020-2021 budget. It included $1,794,750 for the city’s utility fund and $396,700 for the general fund.

The council then approved an ad valorem tax rate of 54.79 cents per $100 valuation to fund the budget.

It was noted that the budget will include $212,440 to pay down debt for construction of the new water tower.

Natural gas purchases are budgeted at $200,000. The actual cost purchasing gas so far this year is $24,248.65.

Gas customers will see a increase in gas charges until a new pipeline connecting to a new gas supply south of town is paid off. West Texas Gas agreed to construct the new line at a cost of $475,000. The cost will be passed through to the city’s gas customers at a rate that has yet to be determined.

The new budget included a 4% cost-of-living increase for current employees. The budgeted payroll comes to $1,120,746.39. That’s actually less than last year.

The council also approved a budget amendment to close out accounts on the 2019-2020 fiscal year. The city’s new fiscal year began September 1st.

Mayor George Arispe presided over Monday’s meeting with council members Vicki Farmer, Wayne McGinnes, Mack Redish, Felipe Pina and Oscar Martinez in attendance. Also on hand were City Secretary Karla Reyes and Utility Superintendent Floyd Fay.

The next meeting of the Eldorado City Council is slated for 6 p.m. on Monday, September 14th in the council chamber at City Hall.