05/04/14 — Council will get first look at budget Monday

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Council will get first look at budget Monday

By Matt Caulder
Published in News on May 4, 2014 1:50 AM

The Goldsboro City Council will hold a public hearing Monday at 7 p.m. to listen to the public's opinions about plans for how it will pay for various projects in downtown, including the $4 million match to pair with the city's $10 million U.S. Department of Transportation grant.

City officials plan to refinance the Paramount Theatre and the City Hall Annex to fund the $3.35 million match for the grant and cover the city's design expenses for the projects.

The city received the Transportation Investment Generating Economic Recovery grant in October to fund the construction of a new GATEWAY bus transfer station, Center Street Streetscape and complete site work around the transfer station and adjacent Union Station on Carolina Street.

The council will also hear opinions about how the city plans to pay for improvements to the city's fire and police complex on Center Street during the public hearing.

No plans have been drawn up for the proposed expansion.

Also on the consent agenda for Monday's meeting is the expected approval of the city benefits committee's recommendation that the city move to a fully-insured health plan under Cigna next fiscal year, which begins in July.

The committee recommended that the city purchase a plan which offers a $2,600 deductible to single members as opposed to the current self-insured plan where the city offers a $1,300 deductible for single members.

The move is expected to stabilize the city's health insurance costs in the face of high claims the last three years.

The move is expected to cost the city $4.5 million annually.

The current plan is expected to go $700,000 over its $4 million budget for the current fiscal year.

During the work session, set to begin at 5 p.m., the council will get its first look at the proposed budget for the 2014-15 fiscal year.

The budget must be completed and passed before July.