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Investing LFUCG’s Surplus Revenues The audited financial statement of the LFUCG’s fiscal year ending June 30, 2005, will be published soon. The approximate surplus from last fiscal year was $15.7 million.
Ten
million dollars was transferred into the FY06 Budget, leaving about $5.7
million remaining to be allocated. How the surplus was invested by the Urban County Council is summarized
below:
I
was pleased that 43 percent of the surplus was placed into emergency cash
reserves and the balance in the “rainy day fund” was increased by 33% to about
$8 million. Man O’War Boulevard –
One of the priorities of Lexington’s Urban Government Council is improving traffic flow on an O’War Boulevard. As noted, $250,000 for a Man O’War Boulevard engineering study was approved from surplus funds. If a public opinion survey were taken, a majority of Lexingtonians would likely agree that this traffic corridor needs major improvement.
What Happened to Develop
Lexington’s Metropolitan Planning Organization Congestion Management Report indicates that these Man O’War intersections were;
This study was prepared in 2002 and three years have passed without any major engineering studies or roadway improvements to Man O’War being made. Obviously, traffic counts and congestion levels have not diminished during the last 36 months.
A traffic engineering study would develop a plan that may include these possible solutions:
Each day that passes adds more traffic on Man O’War Boulevard. Immediate action is needed so that available and new traffic data can be complied and plan of action approved.
Even if the study and construction documents were available today, it will take several years to construct the necessary changes. In the meanwhile, traffic issues are not improving; they are deteriorating.
Council Capital Funds Each councilmember will manage $100,000 in funds for his or her district (or at-large) that may be designated for capital improvements in Fayette County. All investments require majority approval of the entire city council. Neighborhood associations, parks, roads, equipment, and not-for-profit organizations are eligible for allocations. All expenditures must be for capital investment.
If your neighborhood needs financial help on a major capital item, you should send a request for assistance to your councilmember. Your letter should clearly state:
You can determine who represents your district by going to www.lfucg.com and clicking on council. Locating your home on the map depicting the geographical area of each district will help identify your councilmember.
Requests and supporting information should be made
in writing to your councilmember or any at-large councilmember at 200 East Main
Street, Lexington, KY 40507. Your comments and suggestions are always appreciated.
Councilman Ed Lane represents the 12 th District on Lexington Urban County Council. He is the owner of a commercial real estate services firm and publishes a statewide business magazine. To contact Ed Lane's 12th district council offices, e-mail him at edlane@lfucg.com.
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Paid for by the committee to elect Ed Lane; Ron Switzer, treasurer. |
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