Jeannette council to discuss budget after Thanksgiving
Jeannette City Council will likely meet the week following Thanksgiving for a public budget workshop session.
The meeting date hasn't been set, yet, but council finance chair Bill Bedont said it is just a matter of waiting for a list of fixed costs to be finished. Part of that list is dependent upon the union negotiations to wrap up so Bedont can plug in the salary, hospitalization and workman's compensation figures. On Monday, Bedont said two of the three unions are close to signing a contract.
On the revenue side of the 2013 budget, Bedont said he has started the budget building process with conservative figures.
“I learned a lot in the past year,” Bedont said. “This year, I'm pretty close (together) on the revenue and cost figures.”
Bedont was referencing last year's first draft budget which showed a $700,000 gap between costs and income — a gap that was closed in part by using revenue figures that were less conservative and more realistic, according to council. Bedont said such a gap is not present in this year's budget building.
Bedont said a special meeting will likely be held in December to approve the budget.
“This year we're pretty close in the figures and we have a pretty good group of guys,” Bedont said, explaining that communication between council members has been good throughout this process.
Bedont had to submit what is known as a solvency report to the city's auditors this fall. This report explains how the city plans to make it to the end of 2012 financially. Bedont said the auditors approved the report with some corrections, which he said have already been made. “We will make it to the end of the year paying bills and salaries,” said Bedont. “The next big bill is the TAN loan, which is due by Dec. 31. The last thing on our plate is the police pension payment, $414,000, in December. It starts accruing interest Jan. 1.”
The TAN — tax anticipation loan — was borrowed early in the year to bridge the gap between the end of 2011 and the start of tax collections in 2012. The city intends to seek another TAN loan in the early part of 2013 and must pay off the existing loan before that happens. Bedont said the TAN loan is the council's highest priority in terms of large bills that still need to be paid this year.
Bedont said he is cautiously optimistic the city will finish 2012 breaking even. He is hopeful council will be able to start building a five-year plan.
Kristie Linden is an editor for Trib Total Media. She can be reached at firstname.lastname@example.org or 724-838-5154.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
Subscribe today! Click here for our subscription offers.