Minutes 04/14/1981 - Laserfiche WebLink

Home Browse Search

:~ TUESDAY APRIL 14, 1981 A special and duly-called meeting of the Council of the City of }~rtinsville, Virginia, with Mayor Barry A. Greene presiding, was held Tuesday, April 14, 1981, in the Council Chamber, City Hall, beginning at 9:30 A.M., for the stated purpose of conducting its initial work-session on City Manager Edmonds' proposed 1981-82 City Budget, copies of which were forwarded to members of Council on April 8, 1981, and public release of which was made on April 11, 1981. All members of Council were present, viz., Barry A. Greene, Mayor; William C. Cole, Jr., Vice Mayor; L. D. Oakes; Henry C. Reed; and Francis T. West. The following is a copy of City Manager Edmonds' Budget Message, which accompanied the proposed 1981-82 City Budget: In accordance with Section 2(f) ChapterS of the City Charter and Article II, Chapter 6 of the City Code, here\!ith is submitted the annual budget of the City of Martinsville, which includes estimates of anticipated revenues and necessary expenditures of the City for the fiscal period beginning July 1, 1981, and ending June 30, 1982. The purpose of this message is to point out significant changes, programs and issues in the budget proposal. The format and organization of the budget is somewhat different from the past. Although it remains a traditional line-item document, the various accounts are arranged to track as closely as possible the general administrative organization of the City. This is part of an effort to (1) make the budget as logical and coherent as possible; (2) guarantee that the budget will serve as an effective administrative tool; and (3) recognize that the budget is the most important policy statement made each year by the City Council. In general, this budget is an exercise in cutback management and is reflective of many difficult decisions, including that of the School Board to close Joseph Martin Elementary School, necessary to balance ever-inflating expenditures with fairly static revenues. REVENUES AND TRANSFERS General Fund The total of General Fund Revenue is expected to increase only $675,533 over the current budget, or 5.2%. This increase contemplates: (1) Maintaining the current ad valorem tax rate of 99~ per $100 valuation. Because of the recent reassessment required by the State Code, this rate will generate an additional $411,000 and will have the effect of an appreciable tax increase for many owners whose property values have been raised. (2) A transfer or contribution of $550,000 from the Electric Fund. This is a reduction of $16,266 from the current year transfer and a reflection of the current squeeze on Electric Fund revenues by APCo's wholesale rate increase.