Fairhope, Alabama
FINANCE COMMITTEE MEETS
Chairman Chuck Zunk recently told the Financial Advisory Committee that city staff had begun work on the city's FY 2013 budget -- but no budget committee meetings had been scheduled yet.
Zunk: "Its already in the works ... staff has started putting together information ... we haven't had a budget committe meeting yet ... ."
Council member Quinn asked if the Education Committee's request for $750,000 for local schools would come up during the process and was told by Zunk it would: they are planning a presentation to the committee according to Quinn.
Councilman Mixon reiterated his prior statement that all other city functions must be funded before considering the Ed. Committee's request.
Mixon: "... the funds that are left over ... disposable income ... would be left up to the council ... to decide ... whatever dollar value that is ... ."
Members of the Educational Committee had previously expressed hope the money would be earmarked for the purpose during the budget-forming process.
EMERGENCY FUND AT $6.6 MILLION
In response to a question from Councilman Ford, Treasurer Nancy Wilson said the city's reserve funds are now at $6.6 million. By ordinance, when the fund reaches $7 million, one-half of the city's sales tax (one cent) will then be re-directed (from building the emergency fund) to paying down debt and building infrastructure.
The other penny of the sales tax goes into the general fund to operate the city.
The city's 2 cent sales tax has been generating about $4.5 million per year, with Wal Mart being the largest contributor.
Chairman Chuck Zunk recently told the Financial Advisory Committee that city staff had begun work on the city's FY 2013 budget -- but no budget committee meetings had been scheduled yet.
Zunk: "Its already in the works ... staff has started putting together information ... we haven't had a budget committe meeting yet ... ."
Council member Quinn asked if the Education Committee's request for $750,000 for local schools would come up during the process and was told by Zunk it would: they are planning a presentation to the committee according to Quinn.
Councilman Mixon reiterated his prior statement that all other city functions must be funded before considering the Ed. Committee's request.
Mixon: "... the funds that are left over ... disposable income ... would be left up to the council ... to decide ... whatever dollar value that is ... ."
Members of the Educational Committee had previously expressed hope the money would be earmarked for the purpose during the budget-forming process.
EMERGENCY FUND AT $6.6 MILLION
In response to a question from Councilman Ford, Treasurer Nancy Wilson said the city's reserve funds are now at $6.6 million. By ordinance, when the fund reaches $7 million, one-half of the city's sales tax (one cent) will then be re-directed (from building the emergency fund) to paying down debt and building infrastructure.
The other penny of the sales tax goes into the general fund to operate the city.
The city's 2 cent sales tax has been generating about $4.5 million per year, with Wal Mart being the largest contributor.