Quincy City Council reviews next fiscal year's budget
Tue, 10 Apr 2012 01:59:32 GMT —
The Quincy City Council had the first reading of the new fiscal year budget Monday night, according to WTAD
During a public hearing on the proposed $31.1 million spending plan, there was just one speaker. Jeff Kerkhoff had questions on the funding levels for the pension programs, and discussed them being lower in the mid-1990s.
Alderman Dan Brink (R-5) asked Comptroller Ann Scott about the difference. Scott said there were bad investment returns and that the formula was changed on how the state has the funding set.
The City is having to contribute a 3.25 percent increase for the Illinois Municipal Retirement Fund this year.
The City will hold its annual budget hearing Wednesday at 6 p.m. at the Quincy Regional Training Facility, located at Quincy University's North Campus, 18th and Seminary Road.
City department heads will give Aldermen a brief overview of their respective budgets and answer questions from the council members.