TELLICO PLAINS-The town of Tellico Plains has something to be excited about. If all goes as planned, the town will have an estimated $48,000 surplus at the end of the budget year.

"That's way better than last year," Mayor Patrick Hawkins told the board Thursday night during the first reading of the 2012-2013 fiscal budget. "We were $54,000 in the hole last year."

The biggest change in the budget is a decrease in revenue, a effect of the March tornado that slammed the town and destroyed several homes. Because some people have chosen not to rebuild, the town is facing a tough $8,000 loss in revenue.

"I don't think it's going to end up being that much of a drop though," said Hawkins. "We went with that figure to be on the safe side."

Hawkins said the new budget did not require the town to move funds from the Colonial Building Fund, something they have had to do for a few years.

"And, this budget doesn't require a tax increase," said Hawkins.

See full story in the Sunday, Oct. 7, edition of The Advocate & Democrat.