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home : web-exclusive features : web-exclusive features June 25, 2017


5/26/2017 5:11:00 PM
Covington City Council To Hold Budget Work Session

BY DAVID S. CROSIER
Online Editor

Covington City Council will hold a public hearing on the city’s 2017-2018 fiscal year budget Tuesday, begining at 6:30 p.m. in Covington City Hall Council Chambers.

The following items are some of the highlights of the 2017-2018 fiscal year budget:

— A one-cent increase in the real estate tax rate, dedicated to public safety (fire services coordinator position);

— An increase in vehicle license fees on average by $5, dedicated to transportation infrastructure improvements (emphasis on guardrail improvements on Edgemont Drive);

— An increase in sanitation fees by $5 per month for residential customers and a 30 percent increase for commercial customers. This is the first phase in a fee increase to address landfill expansion and sanitation collection costs, to be placed in a landfill fund with a goal of establishing an enterprise fund during the upcoming fiscal year;

— Maintaining existing water and wastewater rates;

— No fund balance or reserve appropriations, with the exception of water and wastewater funds for the Durant Road bluff project and some wastewater treatment plant capital items ($128,889 from water fund reserves and $304,372 from wastewater fund reserves);

— Funding a number of high priority capital requests;

— A 1 percent cost of living adjustment (COLA) and longevity increase for all city employees;

— Minor adjustments to the health insurance plan which will have minimal financial impact;

— A decrease in the school budget by $188,000 (based on 33 percent city funding formula) to reflect additional state lottery funds for debt service.

The proposed $17.8 million general fund budget reflects an increase of 4 percent over the current 2016-2017 fiscal year budget.

At the close of Tuesday’s meeting, council will hold a closed session to discuss economic development.





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