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Committee reconsiders and postpones spending‑affordability ordinance to allow amendments, requests fiscal estimates
Summary
Council members debated O 12/25, an ordinance to create a spending‑affordability (revenue‑forecasting) function for the city via the Financial Advisory Commission (FACT). The committee voted to reconsider its prior recommendation and postponed further action to Sept. 3 to give staff time to provide fiscal parameter estimates and draft amendments.
The Finance Standing Committee reconsidered and postponed action on ordinance O 12/25, which would add a spending‑affordability (revenue forecast) function to the Financial Advisory Commission (FACT) and authorize procurement of outside forecasting services.
A proponent with professional experience in economic forecasting described the proposal as a revenue‑forecasting function similar to practices used by the State of Maryland and several counties. He said the…
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