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Budget and Finance committee reconvened; 2024 year-end review shows flat tax receipts, mayor seeking cuts
Summary
The reconvened Budget and Finance Committee reviewed the city’s preliminary financial position for 2024, heard that sales and business taxes are largely flat, and was told the mayor has asked departments to prepare for a potential 6% cut and an additional 3% contingency exercise.
The Budget and Finance Committee, reconvened on March 10, received the 2024 year-end financial review and heard that several revenue streams such as sales tax and business-and-occupation tax were largely flat. Finance Director Andy Absorb presented the city’s preliminary financial position through Dec. 31, 2024.
Council Member Lisa Anderson, chairing the reconvened committee, said the mayor’s office has asked…
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