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TUESDAY, MAY 3, 1988
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<br />A special and duly-called meeting of the Council of the City of Martinsville,
<br />Virginia, with Mayor L. D. Oakes presiding, was held Tuesday, May 3, 1988, in
<br />the Council Chamber, City Hall, beginning at 2:00 P.M., for the purpose of
<br />considering further City Manager Brown's recommended City Budget for the fiscal
<br />year beginning July 1, 1988, and for the purpose of taking such actions thereon
<br />as permitted and deemed appropriate. All members of Council were present,
<br />viz., L. D. Oakes, Mayor; Clyde L. Williams, Vice-Mayor; William C. Cole, Jr.;
<br />Alfred T. Groden; and Allan McClain.
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<br />After the invocation, followed by the stating of the purpose of this special
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<br />meeting and by Mayor Oakes' review of Council's most recent action on the
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<br />recommended budget, Councilman McClain offered comments, observations, and
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<br />suggestions in the form of a prepared statement, as follows:
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<br />This budget, simply put, represents a City living significantly
<br />beyond its means. According to the figures provided us by Mr.
<br />Brown with his memorandum of April 27, between July 1, 1986 and
<br />July 1, 1987, the total Unappropriated Surplus in the General,
<br />Electric, Water and Sewer funds rose by $1,027,016. However,
<br />between July 1, 1987 and July 1, 1988 the total unappropriated
<br />surplus in these four main funds is projected to decline by
<br />$1,669,489. Moreover, based on the projections which accompany
<br />Mr. Brown's memorandum of April 22, the total unappropriated
<br />surplus in these four funds is projected to decline by $2,727,240,
<br />after Council's adoption of full funding for the School Board
<br />budget, between July 1, 1988 and July 1, 1989.
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<br />While the $1,669,489 decline between July 1, 1987 and July 1, 1988
<br />is, I believe, attributable in large measure to expansion of the
<br />sewerage treatment plant from 6 million gallons per day capacity
<br />to 8 million gallons per day, the decline projected for the coming
<br />fiscal year is not the result of a single, or even several,
<br />one-time, major capital projects; rather, it is the result of on-
<br />going routine expenditures exceeding revenue by $2.7 million. Not
<br />one of the relatively modest revenue generating measures suggested
<br />by Mr. Brown would cover even one-fifth of this $2.7 mi. llion
<br />decline.
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