Mayor Jones Presents FY 2012-2013 Biennial Fiscal Plan
~Proposal includes bonus for City employees, assumes no tax increases, and covers employee and retiree health care cost increases~ Mayor Dwight C. Jones today submitted his 2012-2013 Biennial Fiscal Plan and Capital Improvement Plan (CIP). The two-year plan for the general fund budget totals $1.4 billion. For the first fiscal year, FY 2012, the planned spending totals $656.6 million with the remainder dedicated to the Rainy Day fund balance. For the second year, FY 2013, the planned spending totals $657.2 million with the balance falling to fund balance. One of the key goals of the Fiscal Plan is to increase the City's fund balance with an eye towards a ten percent rainy-day fund balance. The five-year Capital Improvement Plan totals $807.1 million with FY 2012 including $193.8 million in capital improvements. The construction of the four new schools and Justice Center consume $63.1 million or 61 percent of the FY 2012 General Fund projects. The Biennial Fiscal Plan includes no t