The Burlington city council approved the proposed rate increase request on Monday, which will now be forwarded to the Vermont Public Service Board for approval. The increase would apply to electric service after May 1st.
At the Board of Finance meeting, a major issue discussed was the $200,000 deficit for Parks and Recreation.
Tonight we attended the Board of Finance meeting and the City Council meeting where rent control was discussed.
The Board of Finance proposed a resolution to lower the cost to the city of the retirement system for city employees. The resolution, noting that city contributions to the retirement fund jumped from about $1.5 million in fiscal year 2002 to $4.6 million this year and are “still not sufficient to meet the actuarially projected future costs.”
The Mayor introduced the 2006 City Budget proposal at the last City Council. Having followed the finance committee meetings, I am aware of the problems and issues they faced and I understand that it was a difficult process for everyone involved. However, I noticed a couple problems regarding the budgeting process that disturb me.