Highlights of the FY 2016 budget are:
No change in the General Fund millage rate of 5.4945 mils.
Salary increase of 4% across the board.
Use of approximately $68,889 of General Fund available fund balance.
No change to Electric Rates after decreasing rates for the prior 5 years.
Increase in Local Sewer rates of 3%
Increase in Water rates of 3.5% to fund new wells and other capital needs.
No rate changes for Garbage or Stormwater.
From the August 11, 2015 workshop on the budget
Beach Fund
City Manager Bornstein announced that the Fiscal Year 2015 budget document and five-year projections that were provided to the Commission and public showed a significant increase in revenues. He explained that there was a glitch in the budget spreadsheet formula, which caused the Beach Fund revenues to be overstated. He advised that the $500,000 revenue projection for Fiscal Year 2015 was wrong and that there was no Beach Fund revenue surplus.
Commissioner Maier asked if the Beach Fund was in the red or black at the end of the last fiscal year. City Manager Bornstein replied that the Fund was in the black by
$471,000.
1 comment:
Across the board 4% raise may not be across the board for all the city employees. Ask the PEU employees how the city decided to "offer" them their raise.
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