City officials in Rochelle approved a new fiscal year budget last night in which expenses total 73.3 million dollars and expected revenue at 69.6 million dollars or a deficit of around 3.7 million dollars. This includes a General Fund of 9.5 million dollars which is an increase of about 15 percent from a year ago.
Rochelle Mayor Chet Olson said that it will be another tight year in watching expenses for the city.
The real estate tax abatement was approved last night for the Rochelle golf course and banquet center along with the purchase of an asphalt roller for the Street Department at a cost of $45,900.
Residents in Rochelle will see a small increase on their electric bill starting on May 1st. The average home will see their bill rise by a half of 1 percent. The overall rate hike is about 2 percent.
The city is looking at an additional $600,000 in revenue with the electric increase.
The council also approved general obligation bonds which will not exceed 3.1 million dollars.
