Matthew Zeck, Chairman
Louis J. Prabell
The City of Crescent Springs remains in a solid financial position due to the diligent budgeting process by the employees of the City, and the oversight of expense control by City leadership (Managers, Mayor, Council) and Finance Committee oversight.
Budgeted annual revenue of $2.4 million flows mainly from Payroll Gross Receipts ($960,000, 40% of revenue), Real Estate Property Taxes ($672,000, 28%), Insurance Premium Taxes ($320,000, 13%), and the recently enacted Utilities Franchise Fee ($143,000, 6%).
Budgeted annual expenses of $2.5 million are made up mostly of Police protection services ($1 million, 41% of expenses), Payroll of City employees ($471,000, 19%), Fire & Advanced Life Support (Ambulance) services ($307,000, 12%), Equipment/Vehicle purchase expenses ($119,000, 5%), and Servicing of Debt (loans for Park and City Building – $90,000, 4%).
A team of volunteers meets monthly to analyze and review the past month’s financial performance and evaluate the financial statements and condition of the City’s finances. If anyone is interested in joining the Finance Committee, please contact the City Building.
City Council Member