The Louisville Metro Council Budget Committee has made its first changes to the mayor’s proposed capital and operating budgets.
The committee has bonded some projects, and has asked the mayor to request reserve funds from the Water Company and Downtown Development Corporation. That money will be combined with expected revenues from a building sale, investments and take home car fees, if they are legalized, to create $13 million in savings.
Some of the money will be spent on community projects and external agencies, including social services, arts and ministry groups. Budget committee co-chair Kelly Downard says the rest of the money will be saved.
“$8.5 million we’re not spending. It’s being held there in case those revenues don’t materialize,” he says. “It’s not like we’re spending a lot of money. We’re moving around $5 million between cuts and re-appropriations.”
The amendments also call for the Department of Neighborhoods to have its funds frozen until it can present a plan for reorganization in November.
The full council will vote on the final budget on Thursday.