Minutes 03/30/1988 - Laserfiche WebLink

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WEDNESDAY, MARCH 30, 1988 A special and duly-called meeting of the Council of the City of Martinsville, Virginia, was held Wednesday, March 30, 1988, in the Council Chamber, City Hall, beginning at 2:00 P.M., for the purpose of formally receiving City Manager Brown's recommended budget for the City of Martinsville for its fiscal year beginning July 1, 1988, and for the purpose of considering various facets of the recommended budget. All members of Council were present, viz., Mayor L. D. Oakes, Presiding Officer; Clyde L. Williams, Vice-Mayor; William C. Cole, Jr.; Alfred T. Groden; and Allan McClain. The invocation, given by Mayor Oakes, included prayers for Mr. Moses N. Craighead (a member of the Henry County Board of Supervisors who died March 29, 1988) and his family. Mayor Oakes then extended a cordial welcome to persons present at this meeting and, also, stated the purpose of this special meeting, as hereinbefore cited. City Manager Brown then presented a verbal "overview" of his recommended 1988-89 City Budget and the accompanying budget message, noting that the proposed budget is balanced--without imposing any increase in present local taxes or tax rates and/or without imposing any new local taxes--only by applying in the General Fund essentially all of that fund's surplus balance estimated to be $1,776,793.00 at June 30, 1988. Mr. Brown referred, too, to problems with State funding for the local school system (the net result of which will require $380,000.00 more in local money for 1988-89 if the School budget is approved), to the need to maintain "minimum" balances in the enterprise funds as well as in the General Fund, the anticipated need to increase water rates, and his recommendation that contributions from the enterprise funds to the General Fund be phased out. In order to eliminate the drain upon fund balances and to