Meeting Tuesday morning in special session, the Corbin City Commission approved the first reading of the budget ordinance for the upcoming fiscal year. The Commission will meet Wednesday morning to approve the second reading.
In his annual budget message, City Manager Bill Ed Cannon noted that the 2009-2010 fiscal year resulted in a decrease in revenues received. Cannon noted a $135,000 decrease in municipal insurance tax alone.
As a result of the decrease, a hiring freeze is in place, several full-time positions are now part-time and the budget provides for no pay increases.
The total overall budget for the City of Corbin for the 2010-2011 fiscal year is $7.9 million. The budget will soon be posted online at www.corbin-ky.gov.
The second reading of the budget is scheduled for 8:30 a.m., Wednesday, in the second floor courtroom of the Corbin City Government Center.