Tuesday, January 4, 2011

2012 COT Budget - Feedback Wanted

On Tuesday, January 11, the discussions on the Fiscal Year 2012 Budget will be commencing by the Mayor and Council. Feedback on the proposal and discussions is needed.

Budget Fiscal Year 2012

The City faces an estimated $55 million budget gap for FY 2012 as a result of the economic downturn and decreased sales tax revenues.

Over the past 2 years, the City has reduced the size of government by cutting $60 million from the General Fund budget. Today’s staffing is at 1998 levels.

Budget reduction decisions are being guided by input from community dialogues and a citizen core tax committee.

While protecting core services is a goal, because these services make up 78% of the City’s General Fund budget, it is not fiscally possible to address the budget deficit without impacts to core services.

During Nov-Dec 2010, City management and union representatives worked together in a collaborative process to develop specific budget balancing recommendations.

A 5-year financial model will be used to evaluate budget options to make sure decisions made now do not adversely impact the City’s financial sustainability in future years.

The City Manager will submit his recommendations for balancing the FY 2012 budget to the Mayor and Council for consideration.

The Mayor and Council will weigh all options and come to a final decision by June 2011.