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APril 26, 1983 <br /> <br />greater percentage; however, I believe we would be remiss if we did not attempt to partially <br />offset previous years' increases and next yearsJ forecast of 5%. - <br /> <br /> Finally, I am recommending that our retired employees receive a 3~% increase in their <br />pensions. This group has had great financial burdens placed upon them by inflation, and even <br />though there is no requirement to increase the retirement pensions, I feel that an increase is <br />necessary for the integrity of the retirement system and the welfare of the retirees. <br /> <br />SUMHvlARY <br /> <br /> Although this budget.message may sound bleak, <br />cial dilemma of the moment will be replaced by tomorrow's financial success." We are at a <br />threshold of an exciting economic resurgence ~n this City. In order to experience such an <br />economic resurgence, however, it will take the full understanding and support of the public <br />well as recognition by officials in Washington and Richmond that needs of cities such as <br />Portsmouth must be shared by them and not by local leadership alone. <br /> <br />I believe as Mr. House stated, "the finan- <br /> <br /> I feel this budget represents a balanced program of municipal services <br />within the limitations of revenue <br />it to you for adoption." <br /> <br /> that can be offere <br />available in regard to sound financial policies. I recommen~ <br /> <br /> <br />