PTC to splash out in New Year
January 6, 2014 by Max
Peachtree City Council has released nearly $1m for project spending, following the news that the city is in a strong financial position.
Meeting at the end of the year, the city council agreed to invest $934,000 of general fund cash reserves into the projects. As well as a number of essential bridge and culvert repair works across the city, the cash will also be used to bolster the council’s IT services.
The majority of the money, two-thirds of it, will be directed to the repair works. This will see $644,000 spent across eight individual projects.
Poster printing will likely take place shortly to advise of any disruption as each project gets underway.
The remaining money, $290,000, will address a number of issues found with the city’s information technology services.
A recent study found that there were significant problems with the transmissions network of mobile terminals in emergency vehicles. This will only take up a percentage of the spend though, with the implementation of new systems also eating into some of the cost.
The council has also recognised the need for extra staff in the IT department, following the six-month deployment of two staffers to the U.S. military.
Despite the spending, however, the city is still in great shape financially. Even after the $934,000 has been spent, the general fund reserves for PTC will be nearly £5m above the minimum amount required.
The general fund reserves need to be at least 20% of the annual budget of the city. With $4.8m left in the pot, the minimum level is still comfortably exceeded.