Mayor Lays Out Plan For Budget Surplus

Mayor Sullivan is proposing to use the $11 million budget surplus money to relieve propoerty tax payers, and pay off city debt.

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By Alexis Fernandez

Story Created: Apr 15, 2011 at 7:07 PM AKDT

Story Updated: Apr 15, 2011 at 7:49 PM AKDT

Mayor Dan Sullivan is proposing to use the remaining $11 million surplus left over from the 2010 budget to help property tax payers and pay off city debt.

“We want to provide some tax relief to our constituents, the good thing is that we were able to accomplish this because of the frugal management of the 2010 budget,” he said.
 
Along with using $6.7 million to help taxpayers, the mayor wants to use $3.1 million to pay off a loan to the city's Municipal Light and Power company for a purchase of land.
 
“The EPA has required us to pay those off this year too. So it’s not much a matter of choice, it's a matter of what we’re required to do, so we have to get those off the books,” he said.
 
Sullivan proposes using the remaining $1.5 million to clean up contaminated soil in Kincaid Park and Reeve Boulevard, but some Assembly members say we need to hold off.
 
“We know already that next year is going to be worse, so we should simply keep that money to negate the impact of next years budget,” said Dick Traini, Anchorage Assembly member.
 
The Assembly plans to meet on April 26th to vote on the first quarter budget revisions which will set the amount property owners will pay in taxes.

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little bookworm said on Saturday, Apr 16 at 9:57 PM

a few days ago it was $8M. now it's $11M. what will it be next week, 12M? 7M? they have a lot of "beans" to count...:)

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