Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Reno staff say proactive cuts and hiring freezes close current-year shortfall; next-year budget still faces roughly $25 million gap
Summary
Finance director told council the city expects an $8.6 million revenue shortfall this year but has identified roughly $10 million in expenditure savings; for next year final property-tax figures widened the build gap to about $25 million and staff recommended using one-time funds plus position freezes and cuts to capital and operating budgets.
Reno finance officials told the City Council on April 9 that the city expects a roughly $8.6 million general-fund revenue shortfall for the current fiscal year but also projects about $10 million in expenditure savings, creating a small positive variance for the year.
The shortfall is primarily tied to weaker-than-budgeted consolidated tax (C Tax) receipts, franchise fees and licenses and permits, Finance Director Vicki Bamgaren said: "we're projecting that we're gonna have a revenue shortfall in the current year of about $8,600,000." Bamgaren added that work across departments to hold vacant positions and trim operating expenses produced roughly $10 million in savings.
Why it matters: City leaders said the combination of early spending restraint and hiring freezes has kept the budget balanced for the current year, but the outlook for…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
