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TUESDAY, APRIL 22, 1997 <br />Fund and the $.12 real estate tax increase scenario contained an <br />additional $49,153 transfer from the Electric Fund. Both scenarios <br />included an increase in the Fire Department budget of 858,741 which <br />would fund an additional firefighter,.pay off accumulated compensatory <br />time, and fund overtime needed to avoid compensatory time off during FY <br />97-98. In addition, Mr. Reynolds proposed average salary adjustments <br />of 2% effective July 1, 1997 rather than the 4% increase effective <br />January 1, 1998 as originally proposed. <br /> <br />141 <br /> <br />In discussing the proposal to provide $2 million in School Division <br />technology and capital maintenance, Mr. Reynolds recommended the <br />Administration be authorized to seek the most advantageous financing <br />option for this project and return to Council at a later date with a <br />recommendation on a path forward. Council Member Haskell noted that <br />neither the S.10 nor the 8.12 real estate tax increase scenarios <br />included funding for School Technology/Capital Maintenance, the new <br />Jail, or the Albert Harris School Renovation. Other Council members <br />noted that, although the budget did not include 82 million for School <br />Technology/Capital Maintenance, the pro3ected Meals Tax Fund unexpended <br />fund balance as of 6/30/98 was $396,128, which could be a source of <br />funds for this purpose. <br /> <br />Mr. Reynolds recommended that in November, 1997 Council authorize the <br />City Administration to seek Industrial Development Authority bond <br />financing to support the new Jail facility construction, with debt <br />service to be paid by the General Fund and Electric Fund. Mr. Reynolds <br />also recommended that in March, 1998, Council authorize the City <br />Administration to seek IDA bond financing to support the Albert Harris <br />School pro3ect with long-term (20 year) financing to be provided by a <br /> <br /> <br />