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MONDAY, APRIL 7, 1997 <br />Maintenance, and City Jail. Projects subject to conventional financing <br />or internal borrowings to be financed by the Meals Tax Fund included <br />School Technology and the School Capital Maintenance Program. Projects <br />subject to lump sum funding from the Refuse Fund were the miscellaneous <br />property purchases, Brown Street Gym, and the Reuse of the City Social <br />Services Building. <br /> <br />In reviewing General Fund revenues, Mr. Reynolds noted a decline of <br />$2,082,397 for FY 97-98 versus FY 96-97. In response to a question, <br />Finance Director Richard Fitts noted the impact of the consolidation of <br />City and County Social Services Departments had a large effect on this <br />figure, although it had a corresponding effect in decreasing FY 97-98 <br />General Fund expenditures. <br /> <br />Mr. Reynolds proposed the following tax increases: an increase in the <br />real estate tax rate of $.21 per $100 of assessed value (from $.84 to <br />81.05); an increase in the 911 telephone surcharge from $.72 to Sl.67 <br />per month; a new consumer utility tax on natural gas of 20% of the <br />first $15 of charges, with a $3 maximum for residential, and 5% of all <br />charges over 815, with a 8401 maximum for business; and an increase in <br />the Meals Tax, from 4% to 5%. The effect of all tax increases would be <br />S1,564,000. <br /> <br />Mr. Reynolds stated that alternatives existed to the tax increases as <br />follows: (1) further increase transfers from the Enterprise Funds <br />(resulting in a delay in planned capital improvements); (2) further <br />increase transfers from the Enterprise Funds with some lesser <br />combination of tax increases (resulting in a delay in planned capital <br />improvements); and (3) no increase in Enterprise Fund transfers and no <br /> <br /> <br />