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Updated Jun 16, 2012 - 9:26 am

Gilbert approves finalized budget of nearly $448M

GILBERT, Ariz. Gilbert has approved its finalized budget of nearly $448 million for the 2012-13 fiscal year.

The action was taken at a special Town Council meeting on Thursday.

The East Valley Tribune says Gilbert has established a zero-based budget this year taking into account the entire town's spending rather than an automatic "baseline" approval of previous years' spending.

Sales tax is the largest contributor to the general fund, as revenue from sales taxes has increased since the recession a few years ago.

Additional revenue that is higher than what it is expected to be maintained has been put aside for one-time expenses so that Gilbert won't become dependent on that money.

Copyright 2012 The Associated Press.

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