(Atlantic) The Atlantic City Council approved the FY2022 budget.
The Council originally set the date for a public hearing during the March 3 meeting and approved it on March 17. However, an error in the State’s budget software resulted in the public notice produced without the time and date, and location. The Director of the Department of Management allowed a budget extension.
In a story posted earlier, Atlantic City Administrator John Lund presented a few substantive changes. The updated budget totals; $14 million-seventy forty thousand-five hundred and seventy-one dollars, a decrease of 18.25 percent or just over $3.2 million, less than the FY2021 budget of $18 million-30 thousand-seven hundred seventy-four dollars.
Lund says the City’s combined property tax levy shall remain at the level set in the FY2021 budget.
The overall budget accomplishes key priorities of the Mayor and City Council, in funding for economic development, housing incentives, community beautification, and additional amenities for the public.
Additionally, the City is continuing to budget any excess growth beyond required minimums towards inevitable liabilities in specialized funds, moving them away from operating budgets to minimize future debt assumptions or operating reserve deficits.
The fund balance reserves are all at their required minimum and many well exceed the minimum.
With only one exception, the 10-year capital improvement plan is fully funded with a declining reliance on debt and responsible use of escrowed funds.
Lund says the City’s comprehensive financial policy is consistently being followed.
Additionally, the Council passed the second reading amending an ordinance during snow events requiring parked vehicles, and sidewalks cleared within 24 hours following the end of snowfall.
The City Council also set May 5th as a public hearing on the sale of City-owned property to Jeff Pross. Pross intends to build a new home on the property at 211 West 6th Street, so the City Council agreed to sell it to Pross for $1.00 in addition to a legal deposit. There were concerns regarding siding. The City’s Zoning Ordinance limits the use of metal on residential exteriors to only certain types. This has been addressed with Mr. Pross and he has updated the exterior materials.
