The Stow City Council approved a budget by a vote of 4 to 3 on Friday evening, which according to President Jim Costello, will prevent a complete governmental shutdown on April 1.
Brian Lowdermilk voted against the proposed budget, stating that council could have come up with something better. He was joined in a negative vote by Mike Rasor, who said that it was "not responsible" to push a deficit situation down the road, and Matt Riehl who stated he could not support the measure.
According to figures provided by Finance Director, John Baranek, the budget shows expenses will exceed revenues by approximately $693,097 this year. A carryover balance in operating funds of $3,174,785.00 will cover the potential shortfall.
Baranek says that the revenue figures are estimates, and it is possible that the city's income will exceed the projections, resulting in a lower deficit for the 2012 fiscal year.
In other business, council approved a three-year contract with George Hanson to lease property on Call Road currently being operated as the Fox Den Golf Course Driving Range.