The Duluth City Council will conduct the first public hearing on the proposed FY2013 budget during its upcoming meeting at 7 p.m. Monday, May 14. The draft General Fund operating budget totals $20.4 million, a 6.5 percent increase over the amended FY2012 General Fund budget of $19.2 million.
City Manager Tim Shearer will present a budget summary at the hearing.
In order to balance the revenue and expenses in the General Fund budget, the city is having to use $3.7 million in prior year reserve funds, according to Duluth Budget and Accounting Manager Ken Sakmar.
The city is continuing to maintain a four-month reserve, about $6.8 million, he said, as recommended by citizens on the Advanced Budget Committee and previous Citizen Budget Committees that provided input on the budget.
“We’re still seeing a decline in property tax revenue,” Sakmar said. Some of the other revenues the
Article source: http://duluth.patch.com/articles/first-hearing-on-fy2013-duluth-budget-monfay
Leave a reply to First Hearing on FY2013 Duluth Budget Monday