Council Mulls Options For Pension Savings

OCEAN CITY – It is that time of year for the current fiscal year to receive its first update, as the council weighs its options in how to spend pension contribution savings.

The first amendment to the current fiscal year budget (FY15) came before the Mayor and City Council during Tuesday’s work session.

According to Budget Manager Jennie Knapp, the budget amendment appropriates an additional $855,680 from fund balance to cover council approved expenditures for street paving, Beach Patrol headquarters, the town’s local match for repaving of a runway at the municipal airport and the transfer of Beautification Committee donations to fund a water feature at the Roland E. Powell Convention Center.

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