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Final city budget changes outlined

May 19, 2004|by GREGORY T. SIMMONS

City Finance Director Alfred Martin on Tuesday outlined final changes to the $95.6 million proposed fiscal 2005 budget that is expected to be adopted next Tuesday and take effect July 1. The changes Martin discussed at the City Council's work session include:

  • Reducing the early tax payment discount rate from 1 percent to 1/2 percent. Martin said the action would save the city about $38,450.

  • Establishing a $45,000 contingency fund that could be used to help pay for the C-SAFE at-risk youth program, programs at the Memorial Recreation Center, or elsewhere.

  • Reserving $60,000 in case the city does not receive as much property tax revenue as it expects.

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