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By LOU HATTER
Rawidunnoik Newt Staff Writer
The Washington Town Council held a public hearing last Wednesday to receive input from residents about its proposed $72,660 budget, but the questions came from the members of cowed.
The fiscal 1987-88 budget is the first, at least in recent years, which includes money for capital improvements. But true to a long history of spending only what it takes in, the town’s proposed expenditures perfectly balance its projected revenues. The numbers are, however, significantly larger.
Before the public hearing began, Mayor Dean Morehouse reminded the members of council that the proposed figures represented only guidelines, ami that money would not be spent before the hinds had been received.
New tax equals more money
Council has pledged as its number one priority the refurbishing of the town’s antiquated water system. To that end, it passed in April a 2 Vi percent restaurant and lodging tax, with the proceeds to be used to fix the town’s water problems. According to Treasurer Brad Fisher’s estimate, income from the new tax will account for $38,500, or 53 percent, of expected revenue.
Water sales to the town’s 120 customers will make up another 26 percent — $19,000 — of the total. In previous years, water authority revenue had been listed separately, but this year it has been combined into the town’s general fund. Mr. Fisher said that the change was to make the bookkeeping easier.
He also pointed out that the town’s income last year from all sources totalled almost $50,000. Seen in that context, the $72,660 budget this year is not actually the huge increase which is seen if only the two years’ general fund figures are compared.
For examplq, the Rappahannock National Bank’s franchise tax, which until this year has accounted for as much as 75 percent of the town’s general fund income, will still .contribute an estimated $10,000 igitt the town’s Coffers. But, as a percentage of the newly-combined total income, it shrinks to only 14 percent.
The town also derives $3,400 from state sales tax ($2,100) and ABC profits ($1,300) returned to the town by the state. That figure is supplemented by $10 returned annually by the state as the town’s share of the rolling stock tax collected on commercial trucks using state-maintained
79.3%