Here is the order that these four are opposing:
Order of Councilor Khrystian E. King, Mayor Joseph M. Petty and Councilor Kathleen M. Toomey - Request City Manager consider revising the Financial Integrity Plan for Fiscal Year 2021 (FY21) to allocate excess New Growth above budgeted to: 1) The High School Building Fund; and 2) The City Manager Capital Campaign Fund, to prepare for the capital costs for the South Division Fire Station and the city wide Financial Management System. # 10b CC May 12, 2020
Do you remember our 5 point financial plan that was changed to 7 points:
1.Create a new High School Construction Stabilization Fund for new South and Doherty high schools
2.Increase reserve level targets to 10% of budget.
3.Base City’s borrowing amount on its ability to pay.
4.Create irrevocable OPEB trust, and a city commission to manage it. Require annual report on city’s liability.
5.Memorialize fixed cost budgetary assumptions based upon historic trends.
6.Apply excess New Growth to create tax relief.
7.Enhance financial reporting and transparency.
This motion will change number 6 of the 7 point plan "apply excess new growth to create tax relief". If this motion is approved then we will "apply new growth to not create tax relief". A vote in favor of this motion is a vote in favor of a tax increase.
Will get into more details , but if you see any of these 4 coucilors thank them. Vote on this motion will be coming up. Hopefully some other coucilors will join them.
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