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September 9, 2013

Projected funding, budget gains in New Albany

With $22 million anticipated, 3 percent pay raises proposed

(Continued)

NEW ALBANY —

Under the Affordable Care Act, large employers will be penalized if they fail to offer health insurance to any worker who clocks 30 or more hours weekly based on an average determined by a trial period. That section of the legislation was to go into effect next year, but it has been delayed. The Floyd County Commissioners approved earlier this year limiting part-time employees to 28 hours a week to avoid providing health insurance or being penalized. 

Council members conceded more meetings are needed to get a firm grasp on the budget, but most stated they were generally pleased with the financial status of the city. 

The amount of money available to the city from taxes and fees has risen over the past five years, as council members recalled having to approve final-hour appropriations in December to plug gaps in funding. There also were deficit rollovers during past years that cut into the general fund revenue. 

“It was a nightmare,” Councilman Bob Caesar said. “I know I have a great deal of confidence in these numbers, where before it was like, “I hope the money comes in February.”

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