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Mayor's budget director projects $379.8M deficit, directs 10% department reductions
Summary
The mayor's budget director presented a deficit projection of $379.8 million for fiscal year 2011-12, asked departments for targeted reductions and contingency savings, and outlined a calendar for submissions and joint reports with the Controller and Board analysts.
The mayor—s budget director presented a high‑level deficit projection and budget instructions to the Budget & Finance Committee, forecasting a general‑fund deficit of $379.8 million driven by an $86.4 million revenue shortfall and $293.4 million in expenditure growth.
Key assumptions include modest stabilization in general tax revenues, continued growth in personnel and benefit costs, expiration of some one‑time revenues and federal stimulus receipts, and a…
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