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Recommended expenditures for all other funds are as follows:
<br />
<br />6,238 430
<br />
<br />Public Utility Fund
<br />
<br />$ 986
<br />$ 6,614
<br />$12,183
<br />
<br />$ s6o
<br />
<br />$ 15
<br />
<br />$ S8
<br />
<br />113
<br />
<br />525
<br />
<br />703
<br />
<br />494
<br />
<br />767
<br />
<br />729
<br />
<br />Garage Fund
<br />
<br />Debt Service Fund
<br />
<br />Virginia Public Assistance Fund
<br />
<br />Mental Health Fund
<br />
<br />Law Library Fund
<br />
<br />Senior Citizens Fund
<br />
<br /> While the General Fund budget represents an increase of $3,423,000, there is
<br />not being requested a Teal estate tax increase. The recommended School Board budget
<br />is increased by $1,781,442, or approximately 10%. However, better than $1.5 million
<br />of this increase is being financed with State funds. The balance of the General Fund
<br />budget has increased by 9% after $1,468,551 was reduced from departmental requests.
<br />
<br /> From the General Funds available after appropriations for schools, $9,976,073
<br />is needed for salaries and wages which is exclusive of the Parking Authority and the
<br />Federal employment program. Fixed items such as retirement, FICA taxes, hospitalization,
<br />operation of automotive equipment, debt service, etc., require $6,180,722. The balance
<br />of approximately $4,000,000 is required for materials and supplies, $t,090,482 for contrac~
<br />tual services, $1,529,485 for City's share of Public Welfare, Public Health -- $1,078,290,
<br />and equipment in the amount of $78,835.
<br />
<br /> Most budget categories reflect an increase which is due to the rising costs of materi~
<br />and fixed charges, plus the provision for salary increases. However, there are some
<br />one-time items that have increased the budget, such as the reappraisal of real estate,
<br />voting machines, etc. Also, additional local funds for the Senior Citizen Program
<br />and the Mental Health Program have been provided. This is necessary as Federal funds
<br />are being reduced. To provide the necessary salary increase for employees requires
<br />$742,000. This will give a 5% cost-of-living increase to all employees. Two step
<br />increases within grade are provided for employees at the lower end of the pay range,
<br />and one step for employees in the upper pay range, provided they have not reached the
<br />maximum of their particular grade.
<br />
<br /> The Supplemental Retirement System is being recommended for change tO provide retirem
<br />ment at age 60 with 25 years of service and benefits to equal 50% of the average final
<br />compensation. There is also provided funds to furnish rental type uniforms that employees
<br />are required to wear. Currently, the employee is bearing 50% of the cost.
<br />
<br /> Consideration has also been given for the 56-hour work week for the Fire Department
<br />and additional funds included in the budget. This has not been done without some sacrific~
<br />however, as it will be necessary to reduce fire companies to accomplish this.
<br />
<br /> Court pay for Policemen and Firemen required to attend court is recommended to be
<br />increased from $5 to $10 for the lower courts and $t8 for duty in the Courts of Record.
<br />Uniform allowance for Detectives in the Police Department is also increased to $35 per
<br />month.
<br />
<br /> While areal estate tax increase is not recommended, the initial estimates of revenue
<br />showed that we could expect $57,584,447 for fiscal 1973-74. This includes $1,525,847
<br />in State funds to be received for the operation of the schools. Local revenues are estima~
<br />to increase approximately $500,000 based on the local economy. The revenue estimates,
<br />including th~ school funds, are some $2,340,000 more than 1972-73 fiscal year. This
<br />is after the Machinery and.Tool Tax has been changed to a $1.50 rate using the current
<br />assessment ratio. The Portsmouth Industrial Development Authority has recommended that
<br />the tax be returned to the $1.00 rate and 40% of the original cost as previously in effect
<br />prior to 1969. Also~ all pollution abatement equipment will be non-taxable. However,
<br />to present a balanced budget, an additional $1,325,000 is necessary.
<br />
<br /> To obtain these funds, it is recommended that $640,000 General Revenue Sharing Funds
<br />be used from the entitlements due the City for 1975-74; further, that the water rates
<br />be adjusted as recommended b7 the study recently completed by the consultants. This
<br />recommends a uniform rate of 50¢ per 1,000 gallons (57.$4 per 100 cubic feet) and increase
<br />the meter "ready to serve" charge by 100%. The minimum charge for water used would be
<br />discontinued. This would affect approximately 40% of the customers. A minimum bill
<br />now is $1.52 per month plus the 504 per month meter "ready to serve" charge or $1.82
<br />per month. With the increased "ready to serve" charge, the minimum would be $1.00, and
<br />with a.consumption of 1,500 gallons, the bill would be $1.75. The water rate change
<br />would ~roduce an additional $740,000 over the entire water system.
<br />
<br /> Using the above two additional sources of revenue, there will be sufficient funds
<br />in the amount of $38,909,447 to meet the estimated expenditures for a balanced budget
<br />in fiscal 1975-74."
<br />
<br />Supplemental Letter
<br />
<br />~! : ~li wish to submit herewith a supplemental letter to the budget message for the 1973-
<br />74 budget.
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