[{"_1":2,"_98":-5,"_99":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,74,86],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},"mediaId",6497661,"mediaKeyId","5533704-bc49ca9c6b6d0ab7572e34b237c6373f","parentId",5533704,"title","Committee discusses 2025 tax-rate options and ties rate to capital-priority planning","audioSeconds",1643,"startMs",1922000,"endMs",3565000,"viewUrl","/Search/View?dp=1&key=5533704-bc49ca9c6b6d0ab7572e34b237c6373f&start=1922&end=3565","thumbnailUrl","https://assets.pipeline.soar.com/5533704-bc49ca9c6b6d0ab7572e34b237c6373f/thumbnail_1922000.jpg","articleUrl","/articles/6497661/Fort-Thomas/Campbell-County/Kentucky/Committee-discusses-2025-tax-rate-options-and-ties-rate-to-capital-priority-planning","mediaUrl","https://secure.pipeline.soar.com/6497661-3cc934e8574356ffaf2844c13beb3083/orig.mp4?Expires=1776173874&Signature=dvYy0w4WScxA1oQizLt4EztE3bUh23rjKnZnnBvQYOnzKJLllNrnfebav7C~hbLov2Rstkox1SLI-GowCKRsHm--~BdECkwc4OVye5b5jXpUmnszWEsUSDVXF20aEyEX~h8u78KhB~A2CZeJeS1FM23B4B87JB4WeV4TVIkMPRnnyojANUyGgp0QMr7SOD7G2bgx3GulQCJ93wNGe7YbMlR3bYEmVhmezDneS1jgdc2ouOWCJd1RtwK4BseEp8I~MDtHrZpPeY-clx3Np1YrBkA2cINQjraovUAATzlangD1NuRnS~cvMmVnF-mQ8fu~dM1e0-FONpkCP6442QcdGg__&Key-Pair-Id=KUT5TJCACFTXG","author","","date","2025-08-06T01:14:52.767Z","article","Fort Thomas’ finance committee discussed options for the 2025 tax rate, capital project prioritization and a possible regular cadence for finance briefings as staff prepares a longer-term capital plan.

Staff said a compensating rate plus 4 cents (“comp plus 4”) would increase revenue by about $250,000 to $300,000. “The comp plus 4 would increase about $250,000 to $300,000 in revenue for the following year,” Matt (city staff) said. He said staff will provide more detailed numbers and a 30-year capital plan for committee review.

Committee members emphasized that any decision on a tax-rate change should be integrated with capital priorities, reserve targets and the audit timeline. “Do we have when we look at what are we going to hold in terms of reserves, 3 months, 4 months, 5 months… Do we need a tax increase to help fund some of those amenities that are necessary?” one council member asked. Eric (council member) urged the group to consider a reserves target and suggested a conservative red line. “Maybe 3 months is our red line where we don't do any capital projects, you know, unless it's an absolute emergency,” Eric said.

Staff reported the audit is pending and that an updated capital-equipment schedule will be provided to the committee. Committee members proposed a joint meeting of law, labor & license and finance committees in the final week of August to discuss the budget cadence, the bike-ordinance item and capital planning; several members preferred a midweek meeting earlier in that week.

Council members also reviewed a list of proposed capital projects and potential candidates for delay or removal from the current budget to meet spending constraints. Park projects under discussion included Highland Park playground replacement and Tower Park lighting and kiosk updates. Staff said the Highland Park piece that had been taped off may need removal if parts are unavailable; staff will decide by the end of the week whether to remove the aging equipment.

Next steps: staff will provide a detailed comp-plus scenarios matrix and a 30-year plan, refine audit timing and circulate adviser proposals and capital project estimates; the committee agreed to regular finance briefings and to a joint committee meeting in late August to review numbers and prioritization.","mediaType","Video","parentTitle","Finance Committee - 08/04/2025 (Part1)","oneSentenceSummary","Finance committee members reviewed a possible 2025 tax-rate increase, discussed capital project prioritization and reserves policy, and planned a joint committee meeting to align the budget process and project timelines.","taxTitle","Fort Thomas, Campbell County, Kentucky","taxId",54391,"location","headline","shortSummary",{"_33":75,"_35":36,"_37":38,"_39":76,"_41":77,"_43":78,"_45":79,"_47":80,"_49":81,"_51":82,"_53":83,"_55":56,"_57":58,"_59":84,"_61":62,"_63":64,"_65":85,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},6497666,"Finance committee approves extra funds for full rebuild of tennis courts base",753,1166000,1919000,"/Search/View?dp=1&key=5533704-bc49ca9c6b6d0ab7572e34b237c6373f&start=1166&end=1919","https://assets.pipeline.soar.com/5533704-bc49ca9c6b6d0ab7572e34b237c6373f/thumbnail_1166000.jpg","/articles/6497666/Fort-Thomas/Campbell-County/Kentucky/Finance-committee-approves-extra-funds-for-full-rebuild-of-tennis-courts-base","https://secure.pipeline.soar.com/6497666-7d36d47c14b6a4528259d098cce4e982/orig.mp4?Expires=1776173874&Signature=lIapiBWnwVNZXjKqwpYhtW0unthHZcd7wGM4g1R0MQY8W2yB7N5b5XuafNDlAXvqxQkRDRgbyILmMqY2577WqGySmW-k2KSbhVCNFYi7jb4ug6-Y6F3uOTE9UJa-7HkcPjjc1p-3lBDmXFXH~rBdQmOKa6Jpt94r3CoGaMOzntNj07xTgOq6QbQ7dKq5XkPJnFLebQVz069Uagb5hhdY432q7s8JU8KMLN3QStfGRujaUWhyIezBR66flN4JekPEWw3Hfk8LP8eJ7sl5MyUee5wvp2MhJu5PUxWNpckaUAF5MnVi4sHczi5acRErr0LyOz9lKOBr3vBkLYDY8n1aIA__&Key-Pair-Id=KUT5TJCACFTXG","The Fort Thomas finance committee voted to approve additional funds to reconstruct the upper tennis courts’ base and drainage after staff reported significant subbase failures discovered during milling.

Staff told the committee the courts’ condition — especially on the upper courts near the basketball courts — showed water infiltration and base failure. “The base of the tennis courts. It’s just not good anymore,” Matt (city staff) said. He described two options: a 2-inch overlay intended to extend the surface 15–20 years or a full rebuild with proper drainage and crushed stone base expected to last 50-plus years.

On the overlay option: “To do the 2 inch overlay and be consistent with everything else, that's about $100,000 increase over the bid to do that,” Matt said. On the full rebuild: “The second option is to go ahead and restart and just dig out both courts, add in the proper drainage, add in the proper crushed stone base and then go ahead and put in the asphalt. That's the increase is about $211,000. The expected life is 50 plus years.”

Several council members said they favored the more durable approach. “I agree with option 2 as well,” said Ben (council member). Committee members noted contractor availability and a seasonal schedule: asphalt must set for 30 days and then painting may need to wait until spring if temperatures or humidity are unfavorable.

Committee action: a motion to approve the additional funds for the full base reconstruction was moved and seconded; the committee recorded the motion as passed by voice vote. The transcript records multiple “Aye” responses in favor and the chair declared the motion approved.

Staff also discussed ancillary matters: replacing or adding drainage and fencing work, timelines to complete the project before winter, and negotiations with local schools on lease updates for long-term upkeep. Matt said staff will renegotiate school lease terms for the next budget year and develop a clearer formula for school contributions to resurfacing; he noted a preliminary figure mentioned in discussion of approximately $1,200 per year for school contributions for resurfacing costs.

Staff will proceed with contracting the work consistent with the committee’s approval and return with timeline updates and scheduling details for painting and final completion.","After staff recommended rebuilding the tennis-court base and drainage rather than a surface overlay, the finance committee approved additional funds to proceed with the more extensive option.",{"_33":87,"_35":36,"_37":38,"_39":88,"_41":89,"_43":90,"_45":91,"_47":92,"_49":93,"_51":94,"_53":95,"_55":56,"_57":58,"_59":96,"_61":62,"_63":64,"_65":97,"_67":68,"_69":70,"_71":68,"_72":56,"_73":56},6497671,"Fort Thomas finance committee to seek adviser before adopting investment policy",1051,92000,1143000,"/Search/View?dp=1&key=5533704-bc49ca9c6b6d0ab7572e34b237c6373f&start=92&end=1143","https://assets.pipeline.soar.com/5533704-bc49ca9c6b6d0ab7572e34b237c6373f/thumbnail_92000.jpg","/articles/6497671/Fort-Thomas/Campbell-County/Kentucky/Fort-Thomas-finance-committee-to-seek-adviser-before-adopting-investment-policy","https://secure.pipeline.soar.com/6497671-11c7f4d64818d519d60400162cbf9161/orig.mp4?Expires=1776173874&Signature=SS33Z4ur0omM4uVO-2LUbe9rIh9ijDri8nbEvRl4e8fyZLlEaZVbui7Lv10Qpf81cdwsN8I5-vT776IoquAxmhXK2botQQxHxT~-u5yEowpOAUXLqrp594VEIJMSb1bi89XzsV9x2J1rNYzjJt3uGzfpwd~pQWwN8~N3c5sXSSK-oSKPnkQnN95QXdgFeApsS21drljNB3-DmwHR4dNJmL0DiVhP5t8jXFVYhik1~N-O~u~em6j2CP9EKTMGpmlBUQSxG~u8QvYjw2rd3u6cWMjvHdAI7YG5PgTnpXLZ-HwaHPAtuFlD5rgGrUolq0jZfDtHGb96-oZ1ERcobPMz3w__&Key-Pair-Id=KUT5TJCACFTXG","Fort Thomas’ finance committee reviewed a draft city investment policy and agreed to solicit outside investment advisers before asking the full council to adopt a final policy.

Committee members said the draft is an initial “first run” and that staff wants to identify advisers who understand Kentucky law and municipal constraints before council signs off. “Yes. Discussion won't be super in-depth. I did just want to send out, that draft policy is just a first run,” said Matt (city staff).

Why it matters: the policy will guide where the city places its cash beyond traditional certificates of deposit (CDs), balancing preservation of capital, liquidity and return. Committee members stressed that Kentucky Revised Statutes (KRS) limit what municipal governments may hold and that any asset allocation should reflect upcoming capital needs.

Staff described the city’s current holdings and the intended process. “Where it currently sits is about half and half. We've got about $8,000,000 invested, about $4,000,000 of those are in money markets, so for some liquidity. And the other half is currently in CDs,” Matt said. Committee members discussed liquidity needs, how long the city can leave funds invested and how penalties for early CD redemptions can affect timing for capital projects.

Members noted KRS limits on diversification and a statutory allowance that in practice constrains the share in higher-risk holdings. “KRS is only a percentage that you can do in each one. So you can't put it all in one fund,” Matt said. Committee members also discussed the Kentucky League of Cities (KLC) pooled option as a benchmark; staff will include that offering among proposals for comparison.

Next steps: staff will solicit proposals from several advisers, send them to the finance committee for review and likely arrange committee interviews. “If council is good with that over the next month, I'd like to try to find 4 groups to take a look at,” Matt said. Committee members agreed it made sense to pick an adviser first and then finalize the policy with the adviser’s input rather than adopt the current draft immediately.

The committee did not vote on the policy at the meeting; members directed staff to return with adviser proposals and to continue the discussion in committee before bringing a final recommendation to council.","Committee members reviewed a draft investment policy and agreed to solicit investment advisers for guidance before approving a final policy; current city funds are largely in CDs and money-market accounts.","actionData","errors"]

Article not found

Committee discusses 2025 tax-rate options and ties rate to capital-priority planning

Finance committee approves extra funds for full rebuild of tennis courts base

Fort Thomas finance committee to seek adviser before adopting investment policy