The recommended budget provides $15.7 million in anticipated revenues and includes funds that will be used for service enhancements and the start of a Brookhaven police force in 2013. The budget also recommends remaining within the 3.35 millage rate cap as outlined in the city charter.
“Our financial health reflects our city’s overall strength, and we must strive to be fiscally healthy,” said Davis. “The 2013 Brookhaven budget recommendation represents a concerted effort to present a balanced budget, containing no surprises, helping us create a vibrant and service-oriented city.”
To properly address cash flow needs, the city approved and executed a Tax Anticipation Note in the amount of $5.4 million for its 2013 budget at an interest rate of 0.60 percent. These funds help the city responsibly deliver services almost immediately without having to wait on tax revenues to begin flowing.
“We understand and anticipate our revenues will be lower in our first year,” said Davis. “Our proposed budget is in line with the Carl Vinson Institute of Government Feasibility Study for Brookhaven figures for year one. We will closely monitor both revenues and expenses throughout our first year, setting ourselves up for success in the years to come as all revenues due to the city are scheduled to be received starting in 2014. It demonstrates our focus on accessibility, transparency and provision of the level of services our residents deserve.”
The city council will review the budget recommendations and plans to hold a public hearing on the budget Feb. 26, at which time councilmembers will discuss budget items and address any questions they may have concerning the recommendation.
Information: (404) 637-0500 or visit www.brookhavenga.gov .