Savannah City Council meets for budget retreat - WALB.com, Albany News, Weather, Sports

City leaders hold budget retreat

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RINCON, GA (WTOC) -

City of Savannah officials are holding a retreat in Effingham County to review the budget for Fiscal Year 2014. The city is working to overcome a few challenges for next year's budget, including a loss in revenue of about $6 million due to the reduction in Special Purpose Local Option Sales Tax revenue.  Also included as an increased expenditure is a 2 percent wage increase for city employees. The city also will have to plan for other increases like public safety and increased health benefits.

In order to balance the 2014 budget and not increase property taxes, the city has identified some areas of efficiencies to reduce expenditures by about $540,000. The city also plans to draw about 4.4 million dollars from the Sales Tax Stabilization Fund to offset the $6 million loss from LOST.

The 2014 general fund budget is about 171.2 million dollars and the overall budget is slightly more than $337 million.

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