By MONROE ROARK
Staff Writer

Peachtree City officials had their first joint meeting yesterday to begin hammering out the specifics of what is expected to be a combined budget of just under $23 million for fiscal year 2000.

According to a budget summary prepared in advance of Thursday's meeting, the combined figure of $22.9 million includes Public Improvement Program re-budgeted funds.

General fund revenues for FY 2000 are projected to increase 4.16 percent from the previous year for a total of $15.6 million. That includes a seven-percent projected property tax revenue increase to $3.9 million, based on the current rate of 4.06 mills.

Slight increases in local option sales tax revenue and hotel/motel tax revenue also are projected. Building permits and other permit categories are leveling off and build out gets closer, according to the budget summary.

The departmental budget is looking at a possible 6.64 percent increase to $11.3 million after adjusting for court and self-supporting recreational programs. Funding for five new full-time and three part-time positions is being considered in the proposed new budget.

The city projects a contingency fund balance of $402,104 at the end of this fiscal year, and has budgeted additional funds to bring it up to $850,000 for the new year.

Plans are in the works to begin a gradual reallocation program in FY 2000 with respect to hotel/motel tax revenues distributed to the Airport Authority and Development Authority. This is because those two bodies are becoming increasingly self-sufficient, and the tax funds were intended to assist them until they no longer needed them.

Some changes are proposed for the city's employee retirement plans, such as changing the ten-year vesting period to five years and matching 50 percent of employee contributions up to 2 percent of salary. Standard salary adjustments of 2 percent and merit increases are included in the FY 2000 budget.

Back to News Home Page | Back to the top of the page