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in effect with the area hospitals with regard to supplies. <br /> It was also noted that Memorial is the sponsoring hospital. <br /> Fire Pension Page 19.A.001-2 $3,245,469,000 requested <br /> 1989 budget 43.9% increase. <br /> Rick Switalski then reviewed this budget. He noted that the <br /> City is to budget for all eligible firefighters who may <br /> retire. There are 97 individuals with 20 years of service <br /> of which 63 could draw benefits (i.e. are 55 years of age <br /> and have 20 years of service) . He has prepared two budgets; <br /> one being the actual budget, the other being the reduced <br /> budget and the figure of $743,309.00 is the actual picture <br /> to cover 63 potential retirees. <br /> It was noted that the Controller's Offices does the <br /> investing for both the Police and Fire Pension boards. <br /> Under Line Item 150 Pension Dependents there are 71 widows <br /> and 4 dependents with the dependents being carried until the <br /> age of 18. Widows receive 30% of the firefighter 1st class <br /> and dependents receive 10% of the firefighter 1st class. <br /> It was explained that there are two acts governing <br /> retirement benefits namely the acts of 1937 which covers 67 <br /> widows and the acts of 1977. It was also noted that <br /> Evansville is a self-funded City in this area and works off <br /> the interest earned. <br /> $266,000. 00 is projected for 19 retirements at 74% rate. It <br /> was also noted that pension relief is received from the <br /> State twice per year. <br /> Councilman Luecke requested an accounting of the actual <br /> balance in this account. <br /> Economic Development Page 1.A.026 $548,996.00 requested <br /> for 1989 70.4% increase. <br /> Mr. Jon Hunt then presented an overview to this department <br /> budget. Also in attendance in this portion of the meeting <br /> were Beth Leonard, Mary Allen, Bonnie Strycker, and Irene <br /> Gammon. Mr. Hunt then presented three hand-outs namely: a <br /> chart showing the personnel, a listing of funds to be <br /> managed for 1989, and a sheet entitled "1989 Budget <br /> Calculation" (copies attached) . Mr. Hunt noted that the <br /> budget is a project budget not a program budget. This <br /> department reacts to opportunities. Types of costs include <br /> appraisals, title policies, legal surveys, legal actions, <br /> and various studies. He noted that $72,600.00 is pledged to <br /> Project Future which reflects a 10% increase. He noted that <br /> additional work in the pre-development stage of the <br /> Studebaker quarter for soil testing, architectural <br /> engineering services, legal work, etc. , are all anticipated. <br /> 3 <br />