City Council sets schedule for budget hearings, meetings

The Biloxi City Council, with FY ‘09 scheduled to begin Oct. 1, has announced a schedule of upcoming budget hearings, including a nighttime meeting.

Budget hearings will be held at 10 a.m. on July 29 and Aug. 12, and during a 6 p.m. council meeting on Aug. 5.

For September, the council will meet Sept. 2, 9 and 23 at 1:30 p.m.

Updated financial report now online

The city’s three primary revenue streams — gaming, sales and property taxes — are near pre-Katrina levels, except for a 28.1 percent drop in property taxes because of losses caused by the 2005 hurricane.

The information is one of the observations made in the city’s Comprehensive Annual Financial Report for FY 2007, the most recent detailed accounting of the city’s financial condition.

One of the most informative sections of the 131-page report is a 10-page overview, known as a Letter of Transmittal, in the CAFR.

To read the report and to see other city financial information, click here.