Council Saves for Neighborhood Services, Holds Budget Amendment Hearing
MEDIA RELEASE
For Immediate Release
January 29, 2014
For More Information:
John Ivanic, (614) 645-6798
(Columbus)—Columbus City Council President Andrew J. Ginther and Finance Committee Chair Priscilla R. Tyson are recommending that Council save a one-time $5.714 million state payment in a fund designed to offset unexpected City expenditures. The money, part of a refund of workers’ compensation premiums, will be placed in the Basic Neighborhood Services fund established by the Mayor and approved by Council as part of the 2013 budget. The dollars will be used to replenish the fund, which is being utilized in the 2014 budget to offset cuts in state funding.
“Placing these dollars in the Basic Neighborhood Services fund is a responsible way to prepare for extraordinary needs that may result from unanticipated future expenses or decline in revenues,” said Councilmember Tyson. “These dollars will help maintain basic city services that build strong neighborhoods.”
In addition to the one-time workers’ compensation dollars, City Auditor Hugh J. Dorrian reports that the City experienced a carryover from 2013 of $4.89 million.
“Columbus is in a strong financial position,” said President Ginther. “We are on track to save taxpayers more than $220 million thanks to a series of government reforms and efficiencies while achieving our goal of placing $75 million in the Rainy Day Fund by the end of 2018.”
Councilmembers will announce 2014 budget amendments January 30, 10:00 am, in City Council’s conference room 225. A public hearing will be held on the amendments at 5pm in Council Chambers.
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