City Board Begins Preliminary Discussion on New Budget
The Mayor and Board of Alderman met in a special called session on Tuesday, May 9th, at 6:00 p.m. to begin preliminary discussions on the new budget. Mayor Jowers reminded the board that the numbers presented were projected estimates for year’s end. Not included in the draft were capital projects requests of about $1 million, however, only about $224,000 is expected in excess funds. Twenty-five percent of the budget, per state guidelines, are reserved in the Unassigned Fund Balance, which represents the recommended three months of operating expenses. Department heads for Police, Fire, and Public Works were scheduled to make presentations on their capital projects requests. Chief Roger Loftin presented for the Lexington…
For the complete story, see the May 17th edition of The Lexington Progress.