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One Civic Square Carmel, IN 46032
Contact: Nancy Heck
E-Mail: nheck@carmel.in.gov
Phone: (317) 571-2494
Nancy Heck
The
Department of Community Relations
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City of Carmel
One Civic Square Carmel, IN 46032
News Release
Date:
February 1, 2007
Contact:
Nancy Heck
(317) 571-2494
Release:
Immediate
Carmel Comes in Under
Budget
Carmel, IN – The City of Carmel was
$2.8 million dollars under budget in its General Fund at the
end of 2007, bringing that fund balance to $11.5 million.
The majority of the $2.8 million returned to the budget was
the result of under spending by City Departments and the
remainder of the $11.5 million balance was from revenues
coming in above projections and the fund’s previous balance.
“We work very hard to manage the city’s finances prudently.
We approach the budget process much like the private sector
in that we perform budget forecasting ten years out to
ensure that we can accomplish our goals and keep our tax
rate among the lowest in the state,” said
Mayor Jim Brainard.
While the General Fund balance at the end of 2007 was $11.5
million, the balance of all City funds is $34.9 million, not
including investments for Keystone and pension funds. Strong
management of the City’s money and spending has allowed
Carmel’s taxes to remain low, while providing excellent city
services to residents.
Carmel’s city taxes are the fifth lowest of any of the 119
cities in the state for taxes paid in the 2007 tax year. The
2008 rates have not yet been determined for all Indiana
cities, so a comparison is not possible at this time. In
addition, Carmel slightly lowered its 2008 tax rate, keeping
it the lowest of any city our size or larger in the state.
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