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Council approves $150,000 general budget revision to move COLA and cover insurance increases
Summary
General Budget Revision 3 was approved to reallocate a $150,000 contingency: moving COLA into salary and benefit lines, absorbing higher employee-group insurance costs and covering increased street-utility bills; the revision also funds contracted collection services using B&O tax revenues.
Council approved General Budget Revision 3, which increases the budget by $150,000 to place previously set-aside COLA funds into salary, taxes and retirement lines, add funding to cover higher employee-group insurance, and offset higher street-utility expenditures.
The finance presenter explained the revision also includes administrative transfers and an allowance for contracted treasurer collection services (HDL), funded by B&O tax revenue. The council asked for more detailed line-item accounting and staff said they could provide further breakdowns if members want additional review prior to implementation.
