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Mayor hopeful infrastructure bill could fund Parkway interstate designation
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Hopkinsville mayor talks good economic recovery
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click to download audioThe mayor also pointed the projected budget includes an 8.80 percent payroll increase which will generate a projected revenue of $1.4 million. In addition, he said there would not be any budget cuts to departments and agencies, and no increase to the property tax rate or business license rate increase.
According to Mayor Lynch, the city’s projected surplus is $45,786 of revenue over expenses.
He said the City Council has established a 20 percent of budget cash reserves of over $6.1 million and the General Fund Cash Reserve projection for this fiscal year ending in June is more than $10.9 million dollars. Mayor Lynch said the city’s financial status is very good.
City employees in general would receive a 2 percent cost of living adjustment.
The city is projecting an 8.8 percent increase in payroll tax revenue with continued recovery from the pandemic and while property tax revenue is expected to grow with increased assessment, Mayor Lynch says he will not propose any increase to the tax rate.
Mayor Lynch also highlighted some major projects, including a new cell at the landfill to help extend the facility’s lifetime and will allow for vertical expansion in the future.
The mayor’s IGNITE comprehensive economic development plan includes $125,000 in initial funding for The Lot Next Door program to transition vacant or unmaintained lots to new ownership.
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