WANDA SOUTHERLAND
Staff writer

The Petersburg Board of Mayor and Aldermen approved the first reading of an ordinance adopting the annual budget for fiscal year beginning July l, 2026, and ending June 30, 2027, at its May 5 regular monthly meeting. A public hearing was held prior to the monthly meeting; however, no one present addressed the BOMA on the proposed fiscal year budget. Alderman Charles Gatlin made the motion to approve on first reading Ordinance 2026-02 adopting the annual budget. Vice Mayor Kevin Coffield seconded the motion with Gatlin, Coffield and Al See BOMA, Page 4A ^ derman Logan Jolly voting yes. Alderman Randy McDonald was absent from the meeting.

The board also adopted levying a property tax of $.8330 per $100 of assessed value on all real and personal property in Lincoln County and a tax of $1.0716 per $100 of assessed value in Marshal County for FY27. This is outlined in Section 8 of Ordinance 2026-02. Neither property tax increased from the fiscal year 2025-26 rate. Alderman Gatlin made the motion to approve the property tax rates for Lincoln and Marshall counties, respectively. Alderman Jolly seconded the motion, which was unanimously approved by those present.

Ordinance 2026-02 details the budget as follows:

General Fund Revenues – $317,750 (up from estimated $308,332 in FY26)

• Local Taxes: $199,600 ($188,639);

• Licenses and Permits: $3,000 ($471);

• Intergovernmental: $82,200 ($82,004 – local options sales taxes);

• Miscellaneous Revenues: $32,950 ($37,205).

Expenditures

• General Government: $204,749 (up from FY26 estimated $180,804)

• Public Safety: $69,200 ($64,481);

• Parks: $3,340 ($0 last year);

• Operating transfer to State Street Aid: $24,000 ($0 last year).

Total appropriations: $301,289 (up from FY26 est. $245,286)

Change in fund balance: $16,461 (down from est. $63,046) Beginning fund balance as of July 1, 2026: $719,919 (up from FY26 est. $656,873) Ending fund balance as of June 30, 2027: $736,380 (up from FY26 est. $719,919).

The budget also details revenues and expenditures for State Street Aid, Sanitation, Drug, and Sewer funds.

Section 2 of the ordinance states, “At the end of the current fiscal year the governing body estimates balances as follows: General Fund: $719,919; State Street Aid Fund: $18,768; Sanitation Fund: $83,723; Water and Sewer Fund: $666,500;

Drug Fund: $1,708.

According to the BOMA, most of the monies in the water and sewer fund will go away once Fayetteville Public Utilities completes the takeover of the water system in coming weeks.

Section 3 of the ordinance notes that the governing body of the Town of Petersburg has bonded and other indebtedness totaling $181,728 in the State Street Aid fund dating back to 2017 for street repairs. The FY26 debt interest is $14,379 and the FY26 debt principal is $4,997.

The ordinance states in Section 4 that the BOMA hasn’t planned any capital projects for the upcoming fiscal year.

The second reading of Ordinance 2026-02 will be included on the agenda of the BOMA’s June 2 regular monthly meeting.