After a delay last week in presenting the new budget projections, the Mayor’s Office made good on that promise on Monday night.
In releasing the most recent official budget data, Financial Manager Angela Colton said that there would be a $7.5 million shortfall for the year’s end in the city’s operating budget, after calculating expenditures and revenues for the first three months of the fiscal year. That’s separate from the $200 million shortfall that’s projected for next fiscal year.
Mayor Jerry Sanders is slated Tuesday to release his proposed budget reductions for that shortfall. Council will have the opportunity to consider the mayor’s proposed reductions on Dec. 14, said Chief Operating Officer Jay Goldstone.
He said he would be monitoring the deficit over the course of the year. If the deficit stays about the same, he will hold off on recommendations until after the third quarter of the fiscal year. If it grows in between now and that time, recommendations will be made earlier, he said.