Posted: Wednesday, June 25th 2014 at 10:50am
Suwanee adopts new budget
SUWANEE - The Suwanee City Council Tuesday night approved a $13.6 million fiscal year 2015 budget.
The budget anticipates that revenues will be down slightly by almost 2 percent, Suwanee’s property tax rate will remain 4.93 mills, and no resources from the City’s fund balance will be required.
Including in the spending plan's funding are downtown and public art master plans, a new public works equipment operator position, 10.5 percent increase in health insurance expenses, and a merit salary increase for employees, up to 4 percent depending upon performance.
“Overall,” says City Manager Marty Allen, “our 2015 budget conveys our community’s financial stability. Revenues are anticipated to be similar to 2014’s with a small increase in expenses. When Standard & Poor’s upgraded our bond rating to AAA earlier this year, they told us that some of what they liked about Suwanee was our financial stability, conservative fiscal policies, and healthy fund balance.”
Council also approved a $31.4 million Capital Improvements Program (CIP) for 2015-19 and a $1.7 million fourth-quarter transfer from the 2014 general fund to the CIP. The CIP is used to fund the City’s long-term capital projects that include Buford Highway corridor improvements and other transportation projects, parks and facilities enhancements, and new/replacement vehicles and equipment.
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