Friday, Aug. 15, 2008 | In January 2008, the Mayor’s Office released a five-year financial plan. The City’s 2009 fiscal year budget projected a structural deficit of $32 million dollars. While it’s true we’re only eight weeks into the FY09 budget, we’re six months post the Mayor’s five-year financial plan. I wonder, are we on track? Are the assumptions set forth, for revenue and expenses, holding true? We’ve all seen the news; property values have tumbled, tax assessments lowered. The city’s largest single source of money is property tax. What effect has this had, but more importantly what budgetary adjustments are being made, if any? I recall a promise of regular updates on the budget. I believe there may even be a charter requirement that has been ignored for years. Are our city leaders doing what they promised to do, or are they already reneging on it? Are budgets being dynamically updated and adjusted? While I’m sure the City’s budget isn’t as sexy as the SEDC and CCDC investigative stories, the budget is the most relevant item in our financial recovery. Hey, it’s time to check this patient’s pulse and pin down the doctors who are managing its care for all of us.

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