After saying in August he would revoke raises for police officers and firefighters, Indianapolis Mayor Greg Ballard has agreed in principal to a new contract that would give a 3-percent salary boost next year, according to a statement released Tuesday afternoon by Ballard’s office.

That is the same-sized boost in pay that police and firefighters were due to receive in 2013 under their existing contract, which Ballard decided to reopen in August. But the new agreement delays that pay hike by six months, until July 1.

Also, the agreement with the Fraternal Order of Police and the Indianapolis Professional Firefighters Local 416 would keep out-of-pocket insurance costs steady for six months, after which they would rise to their planned 2013 rates.

Ballard had earlier this year targeted public safety for $5.5 million in budget cuts, but the new agreement would keep about $3.5 million of that spending in the city’s 2013 budget.

The agreement does not alter any other provisions of the existing contract, which runs until Dec. 31, 2014.

“The city took the very difficult but necessary step of reopening the salary and benefit sections of these contracts due to the severe strains on the city’s current budget,” said Ballard in a prepared statement.  “I want to personally thank the members of my team and the FOP and Local 416 who bargained in good faith and reached this new agreement in a timely and responsible manner.”