Minutes 05/23/1996 - Laserfiche WebLink

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,1.62 THURSDAY, MAY 23, 1996 Council reviewed the proposed capital expenditures contained in the City Manager's budget proposal. Mayor Adams said he would like to see the Police Department's proposed FY 96-97 budget be re-examined to determine if savings could be found to fund the video magistration system between the Police Department and the new Henry County Courthouse. Upon motion, duly seconded and by unanimous vote, Council approved allowing the School Division to order a new chiller for the Martinsville High School, to be paid for in FY 96-97. Council reviewed the effect of House Bill 901, which was adopted by the General Assembly and signed by the Governor. The law allows members of the Virginia Retirement System (VRS) with at least 25 years of service to purchase up to 36 months of credit for active military service or service rendered in the retirement plan of another state at 5% of salary at the time of purchase. Currently, VRS members can purchase such qualified service at any time at 15% of salary at the time of purchase. Council and the School Board can elect not to provide this benefit by notifying VRS on or before July 1, 1996. The City Manager estimated that the annual cost of providing this benefit would be $3,400 for employees under the City Manager. Upon motion, duly seconded and by unanimous vote, Council approved participation in this benefit program. Council reviewed all pages of the line item budget which it had not previously reviewed. Upon motion, duly seconded and by unanimous vote, Council approved the budget as amended for advertising purposes.