The 2009 City of Savannah budget is balanced, for now. It was all part of the fiscal update the city council received today from he assistant city manager, Chris Morrell. Morrell says revenue down $4.5 million while expenditures are up $4.5 million, balancing the budget. The balanced budget does include a $2.7 million draw from the sales tax stabilization fund and $1.8 million from another fund.
Morrell presented the council with a fiscal update through last month. The city's sales tax revenue was below target and $1.65 million below 2008 YTD. There's a projected $2.7 million draw from sales tax stabilization fund.
Here's a list of the areas where the city is under budget:
Property taxes $725,000 under budget.
Hotel/Motel $2.3 million down (Only half affects city. The other half is the CVB and the Trade Center.)
Interest earnings $1,995,000 down.
Building inspections were down by $1,080,000.
Business Tax is $300,000 down.
Auto Rental is down by $220,000.
Preservation fee $62,000 down.
Water and sewer tap in fees on target.
The aldermen and women also received the mid-year medical plan review, as of August 2009.
The city ahead in 2009 mid-year costs compared to last year, spending $10,054,434 this year compared to $10,352,362last year.
Morrell says they don’t want to increase medical cost for employees since they’re not getting raises next year.
Morrell, city manager, Michael Brown, the mayor and council discussed how active health management is the key to keeping costs down.
86% of employees have formed a relationship with a primary care physician.
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