News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The Town of Monterey’s Finance Committee recommended giving city employees a 3 percent raise on next year’s budget.
Finance chairman Nathan Walker said Wednesday the city should show its workers appreciation despite economic setbacks from COVID-19.
“I’m honestly torn,” Walker said. “I want to take care of people. I want them to know they are appreciated. It costs more to replace people than it does to replace them.”
The three percent raise would cost Monterey around $35,000 dollars. Walker said economic forecasts are not favorable for the coming year.
“Sales tax revenues are expected to be down,” Walker said. “We already see the numbers from March. The GDP was down close to five percent, and now they’re expecting it for April to be somewhere in the 35 percent range.”
Walker said the state’s comptroller office suggested cities expect a 12 percent decrease in revenues over last year.
The first reading of Monterey’s proposed budget will be at its May 4 meeting.
