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Wed October 2, 2013
Council Prioritizing Surplus-Funded Projects
LEXINGTON, Ky. - Urban County Council members continue to grapple with how to spend what is now regarded as a $12.5 M surplus.
There’s been sharp division around the horseshoe over which district-specific projects should be funded. An original vote was put off last week because some on council wanted updated revenue figures.
In his briefing before a council committee Tuesday, Finance Commissioner Bill O’Mara said when factoring in carry-over funds from the previous year, the city ended this fiscal year in better shape than projected.
“We exceeded revenue, we had less expenses in budget and personnel, less expenses than budgeted in operating, and some of the approved uses of fund balance were not completely spent in FY 13. Which gave us, where our revenues taken in exceeded expenses by 10.4 million," O'Mara said.
Council will now go about the business of ranking some 50 projects by importance and have a prioritized list ready for consideration by October 10th.
That list currently includes completion of the Legacy Trail, a study to redesign Man’O War Boulevard, as well as a number of projects Mayor Jim Gray’s office would like to see undertaken like redeveloping the old courthouse, purchasing new fire trucks, and replacing worn out police vehicles.