By James Hanlon
Leader Staff Writer
Oxford Village Manager Joe Madore shared some good news about the village budget. For fiscal year 2019-2020, which ended June 30, the village budgeted $296,000 in state revenue sharing and ended up with $296,589. This was welcome news, since there had been concerns the funds would be a lot less because of the pandemic.
“We weren’t seeing any dire dip in those funds at that time period when everything was shut down,” said Madore. “So that’s good to know, we won’t have to try to make that up elsewhere.”
The 2020-2021 fiscal year is looking just as good. Anticipating a drop in state funding, the village budgeted for $249,000. The state’s latest projection, released by the Michigan Department of Treasury in August, is $297,081.
“Again, that estimate is based on the future. So we’re still looking pretty good there and we ended the other year really well without any big holes to try to make up, so just glad to see that,” Madore said.
The village began the fiscal year July 1 with a fund balance of $674,873. The budget, passed in May, budgeted $1,942,464 in total revenues and $1,957,380 in expenditures.