FINANCES Key components

Mayor James Melfi has announced a new financial recovery plan. Here are some of the elements:

Contract for five to seven additional gas well drillings within city limits.

Deposit interest earned from lakes/dam fund into the general fund.

Renew the fire levy passed in 2004.

Use inheritance tax to reduce the deficit.

Harvest additional timber in the city in 2009.

Reduce workers compensation costs.

Reduce health care costs.

Favorable contracts with city employees.

Source: State appointed fiscal commission