BILOXI — After months of looking for ways to tighten the city budget for 2011, Mayor A.J. Holloway “found” an extra $90,000 by slashing his own salary to about $27,000 a year.
Holloway will present his administration budget to the City Council during a meeting and budget workshop today at 9 a.m. at City Hall.
Starting in October, his $115,000 salary will be nearly 80 percent less. “To be honest, it’s a win-win situation,” Holloway said. “I’ve been paying into the state retirement system for nearly 34 years at this point, and tax-wise, it works out better to begin drawing some of my retirement funds — better for me and better for the taxpayers of Biloxi. This move saves the city nearly $90,000 a year, which is significant in these budget times.”