Monday, June 25, 2012
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CONYERS -- The City Council gave final approval to its 2012-2013 budget following a public hearing Wednesday night.
The budget calls for no increase in the millage rate and no wage increases for employees.
According to city officials, this will be the first time in 30 years that employees have not received either a cost-of-living increase, annual merit increase or bonus.
The city's millage will remain at 9.9 mills based on a budget of $12.8 million. The budget is $700,000 less than the current fiscal year budget.
The reduction is spread over several categories, according to Isabel Rogers, Conyers' chief financial officer, rather than large decreases in one or two areas. Ad valorem taxes, the largest revenue category in the budget, are expect to generate $5.5 million for the new fiscal year -- essentially flat to the current fiscal year.
In response to a question from Councilman Vince Evans, Rogers said she is comfortable with the budgeted number for ad valorem taxes.
"There is always the possibility that the tax digest may change, but based on the current data I have received from (Tax Commissioner) Dan Ray, it looks like the city will be on an even keel," she said.
The city's fiscal year begins July 1.
In a related matter, the City Council voted unanimously to take out a $1.5 million Tax Anticipation Note to bridge the gap between tax bills going out and tax monies coming in. The city will borrow the money from United Community Bank at 3.25 percent interest. By law, a TAN must be repaid by the end of the year.
Councilman John Fountain and Mayor Randy Mills recused themselves from the TAN vote due to their affiliations with United Community Bank and in order to avoid a potential conflict of interest.