The Buffalo City Council discussed and then approved a recommendation from Mayor Randy Dyess for the One-Percent Committee to allocate no more than $600,000 from city funds to the various entities requesting funding from the city and county through one-percent funds.
Dyess said in 2009 sales tax revenues were up significantly from where they are now, and the city funded nearly $800,000 in one-percent funds for each of the last two fiscal years. Tax revenues from the one-percent are up six percent for this year over last, he said, but still down significantly from the 2009 levels and even more than in 2007 when the city allocated more than $1 million in one-percent funding.
Dyess explains more about one-percent funding.
His recommendation to the council was to suggest to the One-Percent Committee that they allocate no more than $600,000 in FY 2014 and $500,000 in FY 2015.
The committee will take both the city's and the county's recommendations and fund as many requests from the Chamber of Commerce, YMCA and other similar entities as they can. The committee's recommendations will come back to the city and county for the budget sessions later this spring.