Just like people's personal pocketbooks, the town's overall budget is feeling a bit of a bite from a slowing economy.

That was the news during a Pahrump Town Board informal review of the fiscal year 2008-09 budget March 27.

Only three members -- Chairman Laurayne Murray, Vice Chairman John McDonald, and Nicole Shupp -- were present.

A formal meeting was never opened for the session and no official action on the budget was taken.

The bad news lies sheathed in deceptively higher numbers.

Despite a projected increase of 15.25 percent of the town's assessed valuation (from approximately $1.3 billion to $1.5 billion), the town is unlikely to see those numbers translate into increased property tax revenue after this fiscal year due to a nationwide slowdown in the housing market and a 3 percent property tax cap for older properties.

The town's bottom line -- prior to the town's bills being paid, as it were -- is a general fund balance of $5,177,775.

The majority of that money, $4,129,139 to be exact, comes from variety sources of revenue including property taxes.

Although the town is expected to get $400,918 more in property taxes this fiscal year than it received last time around, Finance Director Michael Sullivan cautioned the increase reflected the last of the housing boom from previous years and could not be counted on in the future.

"We did have a better than expected pop," Sullivan said about the property taxes. "But I caution everybody, this is the end of the game. I think we just caught the end of the boat there, the last of the construction that was the boom here probably got into this assessor's list."

In addition, Sullivan pointed out, there was the 3 percent tax cap to consider.

"Even though you get your assessed bill every year and the assessed value is going up, your tax is not, not more than 3 percent, so there's an artificial growth that you'll see in the assessed valuation," he added. Already reflecting the state and the nation's fiscal woes, the projected budget listed a $100,000 decrease in revenues from intergovernmental consolidated taxes, basically state and gaming taxes that eventually trickle down to the town.

But just like individuals, the town has a number of expenses and services to pay for, after which the bottom line for Pahrump comes to $119,002.

The effect of the economy is seen more clearly when it comes to revenue generated through impact fees.

The fire department's impact fee funds decreased from $16,868 to only $2,868 after expenditures are accounted for.

Similarly, the parks impact fees left over from last year, $261,428, are only expected to increase by about $20,000.

After services, supplies, and capital expenses are paid, that leaves the park impact fee fund with only $6,428.

There was some good fiscal news, however.

The town's continued support and investment in purchasing new fire department vehicles and apparatus appears to be paying off in that for the first time ever, Fire Chief Scott Lewis was able to tell the board there was no increase in expected funding for vehicle repair and maintenance in either the ambulance fund or the fire department general fund.

However, an expected increase in fuel costs was budgeted for the next fiscal year.

So, like most of the country, the town is staying fiscally afloat, but only because it's treading water.