News - State
Pineville to dip into surplus funds
Posted: Jun 23, 2011 8:15 AM by Lauren Wilson & AP
PINEVILLE, La. (AP) - Leaders in Pineville expect to once again dip into the city's savings account to cover the cost of city expenses next year, including state-mandated pension costs for fire and police personnel that are trending upward.
Pineville City Council members Wednesday voted to publish the proposed 2011-12 budget and to hold a final meeting on the budget at noon June 30, to pass the spending plan that is predicted to eat into the city's surplus funds.
Planners for the 2011-12 budget see revenues for next fiscal year coming in at just over $12.7 million and expenses totaling $13.9 million -- a deficit of $1.1 million.
The Town Talk reports it's the second consecutive year that Pineville plans to use money in its savings account.
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