Tuesday, August 11, 2015

Tonight, Budget Workshop #4

Back on May 30 there was a budget workshop that discussed four of our funds:   Water, Electric, Beach and the General Fund
  • Larry Johnson, Water Fund Manager, called for a 4.5% increase instead of the prior 5%.
  • Michael Burton of Burton & Associates stated that if the city stayed on the path decided upon by this visionary commission of reducing rates to be in parity with FPL, the electric fund would run out of money by 2020.
  • Discussion of the Beach Fund included the need for more staff. Juan Ruiz stated that raising parking fees would pay for it--also discussion was on the pool and longer hours, paying the debt, etc.
  • The General fund was discussed and the financing of a new power plant, looking into assessments made by other cities, whether or not a fire assessment could be imposed, and the fact that the general fund would run out of money by 2017 if contributions from the Electric fund ceased. The new power plant has been brought up casually by City Manager Bornstein on several occasions. There has been NO detailed explanation on this or even a clue as to the "whys" of it but it sounds as if it will happen. Perhaps the commission will be clued in eventually along with the public as it is they who will be paying for it.
Once again, the city has called for another workshop tonight covering these funds minus the Water Fund. I guess we can assume that the rate of increase in the water will be 4.5% and no further discussion is needed?

CITY OF LAKE WORTH
CITY COMMISSION BUDGET WORK SESSION NO. 4
TUESDAY, AUGUST 11, 2015 - 6:00 PM

3. UPDATES/FUTURE ACTION/DIRECTION:
A. Discuss Fiscal Year 2016 proposed budget
1) Beach Fund
2) Electric Fund
3) General Fund

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