About half of the $150 million is general fund spending so general fund expenses would be cut by just under $4 million. The 10% cut is based on the amount needed to close the gap between projected future revenue and expenses.
In the past, the city has predicted large deficits early in the budget process but ended up with large surpluses. For example, several months before the 2008 budget was adopted, Council was told there would be a 2.2 million general fund deficit. The actual results for 2008 are a general fund surplus of over $3 million.
]]>Yes, forthcoming.
]]>I’m not sure what “save 15% over the next 2 years” means, exactly. Seems like we’re looking for millions more than 10′s of thousands, though.
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