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Flowery Branch mulls new project fund as part of 2013 budget
$1.8M in proposed budget would be used to improve infrastructure
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Flowery Branch is proposing to start a new “local resources fund” as part of its fiscal 2013 budget.The $1.8 million fund addresses major infrastructure needs, including stormwater improvements and transportation, over the next several years.City officials talked about the fund during a public hearing Thursday night on the city’s overall budget, which proposes $5.4 million in spending.Fiscal 2013 starts July 1, with the City Council set to give its approval June 21. Budget adoption initially was set for June 7.The budget shows a slight decline in property tax revenues from the amount collected so far this year. But officials are proposing to keep the tax rate at 2.837 mills, with 1 mill equal to $1 for each $1,000 in assessed property value.Initially, the city planned to balance the budget without dipping into its fund balance, or operating reserves.“We have 4.92 months of operating (reserves) we can run on,” City Finance Director Jeremy Perry told the council.