Public hearing on Forest City's $29 million budget
Residents of Forest City will have an opportunity Monday at 6 p.m. to comment on the 2013-14 fiscal year proposed $29,838,899 budget. It is balanced with a $.29 per $100 property valuation, reflecting no tax increase.
A public hearing is among items on Monday night's regular meeting at Cool Springs Administrative Offices, West Main Street in Forest City.
The budget is slightly less than last year's $31 million.
The proposed budget calls for a 1.7 percent cost of living raise and a merit raise that would begin in January 2014.
At its last meeting, Town Council expressed concern about the town's revenues from the Electric Utility Franchise. The Electric Utility Franchises Tax increased by $170,000 largely due to Facebook, City Manager John Condrey explained.
Since tax reform is being dicussed in the General Assembly, changes would impact the the town's ability to receive the Electric Utility Franchise revenues.
This was the main revenue source that the town expected to receive due to the annexation of and incentive agreements with Facebook. There is $315,000 in revenues budgeted in the 2013-14 proposed budget from the franchise fee, Condrey said.
The budget also includes a recommendation of a pay and classification study for employees. The study will provide information on job descriptions, which have not been done in over 20 years that would enable the town manager to suggest merit raises for deserving employees.The study is estimated to cost $16,000.
Council will likely pass the budget following the public hearing and subsequent budget deliberations on Monday night.
Council will hear from Tommy Hicks regarding a possible golf tournament to raise money for a nonprofit Muscular Dystrophy Group.
Other discussions will include budget amendments, a resolution regarding the Local Water Supply Plan, Workers Compensation Policy.
The meeting will end with a closed session to discuss attorney-client privileges.