Fishers Mayor Scott Fadness provided the first glimpses of his administration’s spending proposals for 2020 before the City Council Finance Committee Monday evening.  He says the city tax rate should remain about the same as last year, unless council members decide to issue a short-term 1-year bond, which would be financed through a one-year-only rate hike of 1-2 cents, in order to pay for needed street repairs in some older neighborhoods.

Fadness is proposing a 2 per cent increase in pay for city workers next year, while increasing the city match for employee contributions to the city’s retirement plan by $500 a year per employee.  The city is proposing no increase in the employee’s share of health insurance premium costs in 2020.

The city projects $2.2 million will be collected in 2020 from the Wheel Tax on vehicles registered to Fishers residents.  The mayor also told the committee the General Fund will have $16.4 million in the bank, as cash reserves, heading into the start of 2020.

The Finance Committee plans more meetings as the budget details take shape.  A public hearing will be held by the City Council on the budget in September, with the final vote on next year’s city spending to be held in October.