The Iola Village of Board approved the 2021 municipal budget at a meeting on Nov. 16.

Expenses

The General Expenses will see a decrease of $6,709 (4%) from the $151,629 in 2020.

Employee Insurance will drop of $18,582 (9%) from the $201,102 in 2020.

Police Expenses will witness a $12,756 (6%) decrease from the $226,706 in 2020.

An increase is seen in Fire and Ambulance Expenses with a boost of $6,3323 (8%) from the $75,506 in 2020.

Transportation sees a large boost in expenses growing to $190,820 in 2021 from $170,106 in 2020, or an 11% increase. The largest increase in this category was in Street Maintenance and Construction, rising from $64,786 in 2020 to $106,320 in 2021 – a jump of $41,534 (39%).

Other Expenses saw a 10 percent increase for 2021 with the Library expenses growing 11 percent to $193,403. Debt service also rose 13 percent to $128,695.

Total Expenses for 2021 reflected a modest 3 percent increase over 2020 at $1,159,036.

Revenue

Total Revenue rose a slight 5 percent to $479,588, with the largest increase coming from County Library Aid at $25,285 (22%) over the $89,172 in 2020.

Equalized Value for the village rose slightly to $63,237,700 (0.3%).

Assessed Value dropped slightly to $60,388,400 (0.4%).