Hopkinsville Mayor Carter Hendricks will present his budget proposal for the upcoming fiscal year early next month and says the city’s increasing pension obligations loom over the budget-making process for the next several years.
The budget address is set for 9 a.m. Friday, May 3rd at the Municipal Center and it will be broadcast on City TV and streamed on the City of Hopkinsville’s website.
Appearing on WHOP Friday morning, Mayor Hendricks says the city’s pension liability goes up significantly over the next five years.
He says finding ways to meet those obligations and other needs that the city has will be tough.
The mayor says it will take increased revenue, budget cuts or a combination of both to fund the increased pension liability in the years ahead.
A Pension and Future Funding Committee is being created to look over the issues and help make recommendations for the city’s future.