BROADCASTS.com

b"Summer is here (not officially, but you know what we mean) and that means something very special for City Podcast regulars...it's time for the budget podcast. This week we've got Assistant City Manager Chris Story on to give us an overview of the most important ordinance City Council passes each year.\\xa0 The $40.8 million fiscal year 2018-2019 budget includes no tax or fee increases and shows four percent projected revenue growth, owing largely to growing in Hospitality Tax and Business License revenue. However, much of that growth is absorbed in the budget by necessary expenditure increases for the City's equipment replacement fund, facilities maintenance, and City Employee medical insurance and retirement fund increases. The new budget goes into effect July 1. Details include: \\u2022 Three percent employee cost-of-living pay increase \\u2022 Seven percent increase for the medical insurance fund \\u2022 $250,834 for mandatory increases in employee retirement \\u2022 Increase of $50,000 for City\\u2019s legacy pension plan \\u2022 $220,000 for building facilities maintenance \\u2022 $1.49 million for equipment replacement"