(Atlantic) The Atlantic City Council set March 12th for a public hearing on the 2015 budget during Wednesday night’s meeting.
Atlantic City Administrator Doug Harris says the proposed budget for all operating funds for the next fiscal year total a little over $9.3 million dollars which is a decrease of around $481,853.00 or 4.9-percent from the total estimated expenditures in fiscal year 2014. Harris says the Waster Water Treatment Plant budget accounts for about half of the decrease in the budget.
Harris says another major component for the decline in the fiscal year 2015 budget is the completion of two large capital projects in the Waste Water Treatment facilities in fiscal year 2014.
"When these two factors are taken into consideration it is clear that the underlying net increase in operating expenses next year will be $100,980 or 1.6-percent. Of this increase, $65, 241.00 will go toward rising costs in the Employees Benefits Fund primarily to cover increased health insurance premiums."
Harris says shortly after he came to Atlantic in 2010, a Citizens Survey indicated a widespread dissatisfaction over the condition of the city’s streets. Harris says they are going to tap into some money from a couple of funds that’s been carried forward that total around $945,000, that will be used to finance some future street projects
“Which is about the amount of road deterioration we have each year and this allows us to stay even with out losing any ground,” stated Harris.
Harris says when it comes to budgets the bottom line for most citizens is their property taxes. Under the proposed budget for fiscal year 2015 the tax rate for the City would be $18.00 per $1,000 of assessed taxable value. This is an increase of .32-cents or an increase of 1.8-percent. Harris says of the six tax levying funds only two are responsible for this increase. The Employees Benefit is up $.018 or 4.36-percent, and the Debt Service Fund is up nearly $0.14 or 2.9-percent.
February 19, 2014