Dublin Villager

Council OKs $74 million 2014 budget

Thursday December 26, 2013 7:07 PM

A $74 million budget for 2014 got the OK from Dublin City Council members last week.

After two council workshops on the budget that sets expectations for expenditures and revenues in 2014, council members unanimously approved the budget at a Dec. 9 meeting.

The city plans to take in $71.7 million next year, an increase over the $69.1 million predicted for 2013.

Expenditures are expected to cost $74 million and includes funding for 10 new fulltime city positions.

The lion's share of the new jobs will be at the police department as Dublin plans to take on emergency dispatching services for Hilliard Police and Norwich Township Fire Department.

Five dispatchers and one supervisor will be needed for the expansion.

Dublin also announced last week that it retained its high bond ratings from Moody's Investors Service and Fitch Ratings.

Since 2004, Dublin has maintained an "Aaa" rating from Moody's. From Fitch, the city has received an "AAA" rating since 2001.

Both are the highest ratings that can be awarded to cities.

The high bond rating works like a high credit score for individuals.

With a high bond rating, Dublin expects to see low borrowing costs when issuing debt for major projects, a staff report to council said.