Atlantic City Council to adopt budget Wednesday
March 5th, 2012 by Ric Hanson
Members of the City Council in Atlantic will act on adopting the Fiscal Year 2013 budget during their meeting Wednesday evening, at City Hall. A public hearing on the budget will precede a vote on approving a resolution adopting the budget. City Administrator Doug Harris says following the hearing, the Council can reduce, but not increase the Municipal Budget, which calls for expenditures of more than $13.6-million dollars. Harris says that’s a decrease of over $9.8-million (42%) from the current FY 2012 budget. If approved, the budget would result in a Total tax levy rate of $17.24 per thousand dollars valuation on regular property, or $3.00 per thousand, on Agricultural land. During the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. The meeting begins at 5:30-p.m., Wednesday.
Harris says the FY 2013 budgets for the City’s 15 Operating Funds total $10.1-million, which is an increase of nearly $1.1-million (12%) over the current year. He says the “Lion’s share” of the increase is due to the $725,000 increase in the Wastewater Fund, to pay for a portion of the news Wastewater Treatment Plant improvements being funded out of current revenues, and, the cost of principal payments to the State Revolving Loan (SRL) fund.
Other factors contributing to the large increase in the Operating Budget, include the use of some fund balances from the Storm Water Fund ($200,000) and the Local Option Sales Tax (LOST) Fund ($650,000), for one-time capital improvement projects. Those changes aside, Harris says the rest of the Operating Budgets are up 1.5%, or $107,000.
In other business, the Atlantic City Council will hold the second reading of an ordinance calling for the speed limit to be changed on 22nd Street, from Highway 71 to Olive Street, and from Chestnut Street to Highway 6. The ordinance states the speed limit on those sections of 22nd Street, will be reduced from 45-, to 35-miles per hour. Some councilpersons have already received feedback from the public in opposition of the change in the speed limit, which was reviewed last month by the Community Protection Committee. Councilman Steve Livengood will report on the CPC’s findings and recommendation, during Wednesday evening’s meeting.