New Market Town Council approves budget, ordinances

NEW MARKET — The Town Council unanimously approved the 2017-18 fiscal year budget Monday night at its monthly meeting.

The Finance and Personnel Committee met in March and April to finalize the budget before holding a public hearing on May 8. It was brought before council Monday night and approved.

The budget, which is a one percent decrease from last year’s budget, is broken down into a general fund and a water/sewer fund. For the 2017-18 fiscal year, the general fund shows a revenue of just under $1.5 million, with the same amount for expenses. The water/sewer fund has a revenue of just under $1.9 million, with the expenses being the same amount. That brings the total revenue and expense amount for next year’s budget to just under $3.4 million.

Other highlights from Monday’s meeting include:

• The council approved a $1,000 sponsorship request by the Chamber of Commerce. The $1,000 will go to the New Market Heritage Festival, which will be held in New Market on Sept. 23.

• Ordinance 95, which gives the town the right to regulate dealers in the sale of precious metals and gems, was passed on a 6-0 vote. The ordinance gives definition to the words coin, dealer, gems and precious metals. It also sets regulations as to what records must be kept when selling these items,  who can sell them and penalties levied against anyone found to be breaking the regulations.

• Ordinance 96 was also passed. It limits the number of pawn shops allowed in the New Market area to two shops. Council may, at its discretion, go back and raise or lower the cap.

Contact staff writer Justin McIlwee at 540-465-5137 ext. 164, or jmcilwee@nvdaily.com