Posted: Jun 8, 2011 8:41 AM by Lauren Wilson & AP
PINEVILLE, La. (AP) - The city of Pineville is combatting
increased pension requirements by using more than $1 million in surplus funds to balance the city's operating budget.
The city's Finance Committee, which consists of the five Pineville City Council members and two citizens, met with Pineville Mayor Clarence Fields and other city employees Tuesday to discuss the budget for the 2011-12 fiscal year, which begins on July 1.
The committee unanimously recommended the nearly $14 million operating budget -- which features nearly $12.8 million in revenue and using more than $1.1 million in surplus funds -- to be voted on by the City Council at next week's meeting.
The Town Talk reports it's the second consecutive year that Pineville will dip into its surplus to cover its increased pension payments.