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Covington sees overall increase in FY25 budget

COVINGTON, Ga. – With the new fiscal year (FY) approaching in July, the city of Covington has moved to approve the FY25 budget.

Covington is currently set to see more money fluctuate as the year goes on in comparison to FY24.

The total projected revenue mark of $222,161,247 for FY25, up over $3 million from last year. Conversely, anticipated expenditures sit at $221,605,982, which is up nearly $4 million.

With this, the general fund contingency sits at $555,265.

As seen in previous years, the majority of the revenue generated by the city will come from city services.

They are as follows:

  • Water services: $55,448,907 (down from $68,588,863 in FY24)

  • Electric fund: $69,742,625 (up from $68,612,132 in FY24)

  • Gas fund: $24,599,646 (up from $19,979,445 in FY24)

  • Sanitation fund:  $3,560,000 (up from $3,411,209 in FY24)

Seeing the largest increase in the budget are the allocation of SPLOST funds, which are set to jump over $3 million. The current budgeted figure is $7,948,600.

Allocations for the significant increase include:

  • Floyd Street @ East Street: $450,000 

  • Turner Street Widening proposed final: $3,800,000 

  • Highway 278 CID project: $320,000

  • Floyd Street: $1,300,000 

  • City Pond @ Williams Road Intersection Project: $1,100,000 

  • Paving SPLOST 2017: $800,000 

  • CID PE: Estimating 80 percent of contract remaining at June 30 (20 percent local match) $20,000 

  • Sidewalk improvement project Remaining - 2017 SPLOST $48,600 

  • Engineering for intersection improvement bulb out projects $110,000

Also seeing a substantial increase in revenue are stormwater collections from $2,096,580 in FY24 to $3,825,356 in FY25. Recently, members of the council voted to increase stormwater fees due to declining infrastructure.

Among other increases include the hotel/motel tax ($1,600,000 in FY24 to $2,671,632 in FY25), E-911 communications ($4,838,269 in FY24 to $5,172,711 in FY25) and the capital projects fund ($2,152,400 in FY24 to $2,391,433 in FY25).

Revenue that is anticipated for the general fund is expected to be $39,236,760. Just over $26 million of that is listed as pure revenue while $12.7 million will be transferred in.

Expenditures listed for the general fund are $38,681,495. The most expensive line item listed is for police, which sits at $11.6 million. 

Salaries for both mayor and council members saw another $12,000 total increase, marking the second year in a row a $12,000 increase has been budgeted.

The budget was passed unanimously 6-0, with Anthony Henderson and Jared Rutberg making the motion and providing a second, respectively.

Council members also approved an additional item that allows the finance team to amend the budget as some financial figures become available. Since a budget is generated off of preliminary data, it is expected that these numbers will be amended throughout the fiscal year.