The initial City of Valdez budget was presented to Council October 19th, during the first of nine workshops. The 2017 Draft Budget to be submitted Tuesday incorporates all revisions requested by Council during the budget workshops. The 2017 budget includes 36 million in General Fund expenditures (not including Capital Improvement and Maintenance Projects – See separate story).
After budget revisions, the City budget includes six new positions and the elimination of four previously authorized positions. In addition to new staffing, Council directed staff to budget a one-time payment to all FTE (full time equivalent) staff reflecting a $2,000 disbursement per FTE. According to the memo from Ragsdale, “Staff estimates that an operating deficit may be reached as early as 2024, using status-quo staffing assumptions and historic rates of inflation.”
CLICK HERE to read Budget Memo
CLICK HERE for 2017 Budget to be presented to Council Tuesday night