From the Fort Wayne Journal-Gazette:
Fort Wayne City Council members approved a 2013 budget Tuesday, a $140 million spending plan that relies on spending down reserves and interest from the Legacy Fund to balance.
Mayor Tom Henry had proposed both the 2.8 percent property tax increase the state is allowing for next year and the 2.9 percent increase it allowed for this year that the city didn’t take. But council members voted down that idea, saying $1.1 million in budget cuts, the cash the city keeps on hand and interest from the millions the city got from the lease and sale of its old electric utility can make up the difference.
The mayor has argued that the roughly $75 million from the electric utility, called the Legacy Fund, should be used for capital projects that could help transform the city and benefit all residents, such as Harrison Square with its downtown hotel, ballpark and mixed-use building. He opposes using it for day-to-day spending, but offered one year’s worth of interest from the fund as a compromise on the budget.
Tuesday’s vote was largely a formality, as the details were hammered out in committee session last week. Initially, only Marty Bender, R-at large, voted “no” on the budget, but when the documents were passed around for member’s signatures, Mitch Harper, R-4th, signed with those voting against it. He said that written vote is the one that matters.
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