Politics & Government
Board of Reps Approves $466.3 Million Budget
The board votes to cut $4.3 million from Mayor Pavia's proposed budget.
The approved a $466.3 million budget Tuesday night for the city's 2011-2012 fiscal year — $4.3 million less than what Mayor Michael Pavia in March. Out of that amount, $237,036,346 will go towards the operating budget, while $229,275,948 will go towards the education budget.
The board approved a $339,000 cut in education funding and a $1.78 million cut in operations funding, which mostly affects funds used for employee retirement benefits. The reduction was in line with Pavia's proposal to amend the multi-year OPEB funding plan from a fiscal 2011-2012 planned 75 percent annual required contribution (ARC) to 55 percent.
The board, in addition, approved the $45.8 million capital budget without any changes, but rejected the Water Pollution Control Authority (WPCA) budget and requested a new one that would reflect reductions in electricity and OPEB funds.
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The budget officially goes into effect on June 1 and the Board of Finance will set the new tax rate on May 17.
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