City Council Sunshine Meeting


Uploaded by WTHITV10 on 06.12.2012

Transcript:
MUNICIPAL FINANCES HAS BEEN
SHAKEN BY THE RECESSION.
ADD PROPERTY TAX CAPS.. AND CITY
COUNCILS ACROSS THE
STATE WILL TELL YOU IT'S A
RECIPE FOR DEBT.
AND IN TERRE HAUTE IT'S NO
DIFFERENT.
NEWS 10'S MATT GREGORY ATTENDED
TONIGHT'S
SUNSHINE MEETING FOR THE CITY
COUNCIL AS THEY DISCUSSED
HOW TO DEAL WITH THE CITY'S
DEBT.
HE JOINS US NOW WITH THE LATEST.
MATT..
PATRECE. THE CITY ENTERED THIS
YEAR WITH A 4 AND A HALF MILLION
DOLLAR DEBT IN THE
GENERAL FUND. THE MAYOR SAID
THAT HE HOPES
AT THE END OF 2012'S BUDGET WILL
HAVE A DEFICIT UNDER 1
MILLION. AND TONIGHT AS THEY
APPROACHED THE END OF THE 2012
BUDGET THEY WERE LOOKING AT WAYS
TO PAY DOWN THAT DEBT AND STOP
THE FINANCIAL
BLEEDING IN OTHER AREAS.
MAYOR DUKE BENNETT BROUGHT UP 3
DIFFERENT
APPROPRIATION ORDERS TO PAY DOWN
BOTH THE DEBT.
ONE IS BORROWING 2 MILLION
DOLLARS FROM THE
ECONOMIC DEVELOPMENT INCOME TAX
FUND OR EDIT FUND.
THE CITY COUNCIL DIDN'T SEEM TO
LIKE THE IDEA. MOST
CLAIMING IT SHOULD BE USED FOR
ECONOMIC DEVELOPMENT
STRICTLY. THE MAYOR ALSO ASKED
FOR 3.5
MILLION DOLLARS TO BE MOVED FROM
THE RAINY DAY FUND TO THE
GENERAL FUND. THEN JUST UNDER
2.1
MILLION MOVED FROM THE WASTE
WATER FUND TO THE PAYMENT IN
LIEU OF TAXES FEE. THE CITY
COUNCIL WAS
VERY CONCERNED WITH USING FUNDS
FROM THE RAINY DAY,
ECONOMIC FUNDS, AND WASTEWATER
TREATMENT TO PAY OFF THE
CITY'S DEBT. THE MAYOR BELIEVES
NEXT
YEAR DEPENDS ON WHAT THEY DO
THIS YEAR.
"YOU KINDA HAVE THE FOCUS ON HOW
YOU'RE GONNA FINISH
2012 AND THEN HOW WE MOVE INTO
2013 WHAT OUR BUDGET
LOOKS LIKE. WHETHER WE HAVE A
DEFICIT OR NOT. ONE OF
THE THINGS WE'VE BEEN MEETING
WITH SOME OF THE COUNCIL
MEMBERS OVER THE LAST SEVERAL
MONTHS ABOUT DIFFERENT
WAYS TO APPROACH PAYING BACK THE
DEFICIT WE
BROUGHT INTO THIS YEAR AND
PUTTING OUR BUDGET IN A
GOOD POSITION."
SEVERAL CITY COUNCILMAN ASKED IF
THEY COULD USE ONLY
SOME OF THE FUNDS TO PAY DOWN
THE 4.5 MILLION DEBT
AND CARRY A SMALLER DEFICIT INTO
NEXT YEAR.
IF 3.5 MILLION OF THE RAINY DAY
FUND IS USED THE MAYOR SAYS
THERE WOULD BE ABOUT 400-
THOUSAND DOLLARS LEFT IN
THE FUND. BACK TO YOU.
TONIGHT WAS JUST A SUNSHINE
MEETING, THE CITY COUNCIL
WILL VOTE NEXT THURSDAY ON THESE
ISSUES.