The Atlantic City Council, Wednesday, is expected to set March 18th at 5:30-p.m., as the date and time for a Public Hearing on the Fiscal Year (FY) 2021 Budget, and Adoption of the Budget. The Budget lists revenue and other incomes sources as just under $15.16-million, and expenditures of $18.02-million, creating a deficit of $2.87-million. The City will have an ending fund balance on June 30, 2020 of $6.7-million, and more than $9.58-million in their beginning fund balance as of July 1st, to carry the deficit. The Budget calls for an estimated Total tax levy rate of $16.56 per $1,000 valuation on regular property, and $3.00/$1,000 on Ag land. The final budget must be submitted to the State by March 31st.

In other business, the City Council will act on setting their March 18th regular meeting as the date for action on a Resolution to Adopt the Proposed FY 2021 10-year CIP (Capital Improvement Plan). And, hold a Public Hearing on a Proposal to enter into a General Obligation (G.O.) [Bond] Refunding Loan Agreement, which – because of lower available interest rates – will provide a cost savings to the City over the next seven-years, of almost $52,953.  The hearing will be followed by action on approving the Resolution.

There will also be a presentation of the final plans and specifications for the Atlantic Animal Shelter Building Addition. You may recall, the Lorene Eppelsheimer Estate gifted the City $135,000 to benefit animals at the Shelter, and the City has committed to constructing an addition. The biggest part of the addition, will allow cats to have their own space away from dogs, and it will allow the addition of more cat cages, proper food storage, and an exam/grooming table for animals. A more efficient water heater is also in the plans. Following the presentation, the Council will act on an Order setting the bid date and public hearing for the project, as April 1st, 5:30-p.m. They will also act on a Resolution calling for bids, with the deadline being at the end of business on March 31st.