Special Board of Aldermen Public Hearing — 5/17/2018 Page 3
therefore result in a shift. As discussed before, we have hired KRT and we are trying to minimize that
impact.
So looking at an overview of the FY19 Budget, the proposed the budget is $262,700,000.00. The
increase over the budget that the Board of Aldermen adopted last year in FY18 is 1.6%, that is the
leanest budget we have had in the city in a long time. In terms of revenues, we are still budgeting
revenues conservatively. We expect vehicle registrations, which is a significant source of revenue, to
remain about constant with FY18. We do have a continued low interest rate environment so that the
funds that we are earning on the City’s undesignated reserve fund, other reserve funds, and all the
money that the City has in the bank at various time, the income from that is very limited. Years ago
when | was Mayor before for example, the interest income we received on our deposits was actually
multimillion dollar source of revenue, now that’s really not the case anymore.
We do, as | mentioned before face the reduction in State aid in at least one area so that is
incorporated in the budget. The lawsuit that was brought in Superior Court and which was decided by
Judge Temple, the result was from at least the opinion of Judge Temple that the current spending
cap is not enforceable as a result of being in violation of State law. However, we wanted to make
sure that people understood what the effect of this budget would have been if the spending cap were
still in effect. We are giving you, therefore, as it says for illustrative purposes only again a very tight
budget which according to the calculation of John Griffin, the CFO is about $1,083,000.00 under what
the spending cap would have been if that were still enforceable and in effect.
In any event that | think Mr. Chair that gives you an overview of the budget and we will provide the
context with which we can discuss the budget as the public hearing goes forward.
Chairman Dowd
Thank you Mayor. | am going to start calling the departments and when | do, if you have any
questions or comments about that particular department, please come up to the microphone and ask
the question. And again, if the Mayor or CFO can’t answer it, we will have somebody from the
divisions answer it. We are only going to go through them once, so when we get to that particular
department and the division, if you have a question, please come up and talk to us. There are copies
of the budget for anyone that does not have one over here on the right stage.
Sequence in Which City Department Budgets will be Discussed:
Dept Revenue Appropriations
No. (Yellow (White Section)
Section)
GENERAL GOVERNMENT
101 | Mayor's Office 65
102 | Board Of Aldermen 73
103 | Legal Department 75
107 | City Clerk’s Office 32 79
109 | Civic And Community Activities 83
Tina Andrade
Iam so sorry to be late. But I hope I haven’t missed the Human
Services part of it. Is this the time that people are allowed to
speak?
