CORINTH – Paychecks after Oct. 1 will include raises for city of Corinth employees after the Board of Aldermen voted Tuesday to adopt the 2014 fiscal year budget.
The raises of 3 percent, or 30 cents per hour, whichever is greater, will not require an increase in Corinth’s ad valorem tax, the tax individuals pay on real property, personal property and vehicle licenses.
Employees making $10 per hour or less will receive raises of 30 cents per hour, and others will receive raises of 3 percent. However, the mayor and aldermen are not included in those raises.
Crossroads Regional Park, which is jointly owned by the city and county, is funded by a tax allocation in the city’s ad valorem millage.
For several months, aldermen have requested copies of audits of the park’s funds, audit reports which are several years behind.
The board approved a motion by Ward 1 Alderman Andrew “Bubba” Labas that if audit reports have not been received by the time of the department’s first budget distribution in October, the board will revisit the matter before a funds transfer is made.
In addition to approving the city budget, aldermen voted to proceed with plans for a $1.6 million bond issue for street paving and other infrastructure improvement projects, a decision which also requires no tax increase.
Each of the city’s five wards will receive $100,000 for streets, and Mayor Tommy Irwin said he also would like to include Davis Street downtown on the list of projects.
The board also voted to approve a $2,000 line item in the budget that the mayor may use to pay for meals for economic development prospects.