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Williamsport City Council was given a recommendation to have the city reserve or carry-over funds of $7.2 million along with cash in the general fund for the 2024 proposed budget.
The recommendation from Tracey Rash, manager of Government Finance Solutions, the city consultant on finance, came during a recent budget work session.
It is expected that the city will require at least $3 million available for the ongoing levee recertification and Grafius Run flood mitigation and more, Councilwoman Liz Miele, finance committee chairwoman, said.
Council President Adam Yoder said he believed the city reserve should be more than $7.2 million recommended and closer to $10 million, but noted he was appreciative the city is on its way there.
However, he said the city also faces unknown costs related to City Hall, a state attorney general investigation into prior-year audits and financial management along with the aforementioned infrastructure projects expected to cost into the millions of dollars.
Yoder basically suggested there be discussion on a mechanism that puts reserve money away and makes it a little harder to pull money out.
"We can have that discussion," he said.
The council has its first reading on the 2024 budget which calls for a 1-mill real estate tax increase over the 16.22 mills presently assessed in the city. That does not include school and Lycoming County tax.
The 1 mill of real estate tax proposed would generate about $800,000 in revenue, the expected deficit based on the 2024 projections, Mayor Derek Slaughter said.
The meeting is at 7 p.m. at Trade and Transit Centre II third floor and available to see and record on a digital platform.