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<br />')~. <br />~(j <br /> <br />TUESDAY <br /> <br />JUNE 4, 1974 <br /> <br />Martinsville City Council met at 7:30 P. M., in City Council Chambers, on June 4, 1974, the <br /> <br />meeting having been recessed from Council's regular meeting which was held on May 28, 1974, <br /> <br />with all members present and with Mayor West presiding, as follows: Mayor Francis T. West, <br /> <br />Vice Mayor Harry L. Boaz, W. D. Hartford, William D. Hobson and Morton W. Lester. <br /> <br />On motion of Mr. Hobson, seconded by Mr. Lester, and carried unanimously, City Manager <br /> <br />Noland was directed to serve as temporary Clerk. <br /> <br />.- <br /> <br />To begin the discussion of the proposed City budget, the City Manager noted that the final <br /> <br />form of his budget, as submitted to City Council, represented a proposed total expenditure <br /> <br />of $12,974,000.00 and that projected revenue indicates a deficit of $273,000.00. By <br /> <br />recapitulation, it was shown that by deducting the $25,000.00 as suggested by the School Board <br /> <br />and as had been announced at the May 28 meeting, the deficit is thus reduced to $248,000.00, <br /> <br />and here the City Manager suggested an upward revision of the utility tax rate on electric <br /> <br />customers within the City, which rate structure would produce about $220,000.00 of revenue, <br /> <br />thus reducing the deficit to $28,000.00. Also, the City Manager suggested an increase in rates <br /> <br />charged for City automobile license decals from $10.00 to $15.00, for passenger vehicles, with <br /> <br />commensurate increases for other type vehicles, an increase which would produce approximately <br /> <br />$30,000.00 in the next fiscal year, thus balancing the figures in his proposed budget. <br /> <br />At this point there was presented and explained a report on the status of "Revenue Sharing" <br /> <br />funds as submitted by the Director of Finance, with projections through the end of the <br /> <br />upcoming fiscal year. The report showed that actual funds received, or expected to be <br /> <br />received through the end of the current fiscal year would total $887,196.00 and, by adding <br /> <br />interest earned or anticipated to be earned the revenue funds balance would be about <br /> <br />$956,523.00 at June 30, 1974. Totaling allocations of Revenue Sharing funds which had already <br /> <br />been made by Council, including $378,308.00 allocated for application towards salaries of <br /> <br />police officers in the upcoming fiscal year, as approved at the May 28 meeting, and noting that <br />