Although thanks to save thousands of pension reform, South Kingstown’s fiscal 2013 spending plans is expected to present a challenge to lawmakers. So with six months still to go until the next fiscal year begins, lawmakers get down to business Monday night.
The City Council and school Committee started the process with the first budget hearing on Monday night. Many sources of revenue to fund South Kingstown $ 74 million budget for fiscal year 2013 are still shaking, said City Manager Stephen Alfred. Presentation by city officials and the school gave lawmakers a starting point to understand what is going to cost the taxpayer for the current year roll-out program.
“About 82 cents of every tax dollar in 2011-12 roll-$ 66.1 million-sen 50.8 it came from our residents,” said Alfred. “If we consider other lost 5 percent of the motorists, residents of responsibility would be more than 85 percent.”
Since the recession hit in 2008, Alfred says South Kingstown continues to experience a loss of revenue from third parties. This means an increase in expenses and losses in the State, federal or other funding programs should be offset by increased taxes for property owners of the city.
Some funding sources are questionable at the side of the city including the motor vehicle excise tax, a reduction in federal and State aid programs for cities and towns and the decline continued in his assessment of the taxable property. The school deals with $ 300,000 reduction in State aid and could lose up to another $ 700,000 if jobs Fund and group of home assistance to schools South Kingstown cut.