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Finance department moves; midyear budget review may prompt supplemental appropriations
Summary
City finance staff said they completed midyear budget reviews and expect to recommend supplemental appropriations in September after property tax settlement figures are finalized; the Tax Incentive Review Council meeting was also announced.
The finance director told council on July 14 that midyear budget reviews are complete and that recommended supplemental appropriations will likely be brought forward in September after the second-half property tax settlement is finalized.
The director said the department has been packing offices for an imminent move and that the finance staff will relocate the following morning. He noted that property tax and payment-in-lieu (PILOT) figures need to be confirmed before finalizing recommendations: “Once we have the second half property tax settlement we'll all recommend some supplemental appropriations,” he said.
The director also reminded council that the Tax Incentive Review Council (TIRC) will meet later that month at the county building to review property tax abatements. He said the TIRC is composed of the finance director, a school district treasurer and county appointees, and that subsequent legislation regarding property tax abatements will come before council as required by statute.
No supplemental appropriation was adopted at the July 14 meeting; staff said recommendations are likely in September after receipts are verified.
