Lexington City Leaders are reconsidering ways to spend surplus funds. A new strategy was proposed at last night’s Council meeting.
The original proposal called for splitting three point seven million dollars equally, so 12 council members could spend it on projects in their home district. The three at large members would also be given an equal share. But, Council member Chris Ford offered a new plan. It reduces the overall amount to two point 25 million dollars with spending decisions made by the entire governing body. Council member Steve Kay likes the newest proposal.
“I think if we’re gonna allocate funds for capital improvement projects, we need to look at the whole county not as originally proposed district by district, so this is a move forward,” said Kay.
The mayor is charged with developing an overall budget plan which the Council considers each spring. In this case, Council member Kevin Stinnett believes these decisions should rest with the council, not the mayor....
“Says the Council still wants to dictate what happens to our surplus. We’re dealing with 2012 funds. This should have been dealt with months ago. We’re down to seven point six million from almost 40 million dollars in surplus. This is a little money remaining and in two weeks we’ll hear about another surplus, so I think it was responsible to reduce it down but it also sends a clear indication that Council needs to take care of its own neighborhoods,” said Stinnett.
For his part, Lexington Mayor Jim Gray maintains it’s a question of what’s the best way to spend these dollars.
“I think examining responsible investments, spending the money wisely, investing the money wisely is the responsible thing to do. Now, how we do it, is what the Council is still examining and that’s what I’m interested in as well,” said Gray.
A final vote on the plan to spend surplus funds could come by the end of the month...