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Mayor's team presents $118M midyear package; cuts and revenue measures lower next-year shortfall but $461M remains
Summary
Mayor's budget staff presented a midyear package that addresses $118 million in shortfalls this year through revenue, vacant-position savings, frozen capital and service reductions; the package reduces FY2009—2010's projected shortfall but leaves a significant gap and envisions deeper department targets ahead.
Noni Coloretti, the mayor's budget director, presented a midyear package the administration said closes $118 million of current-year pressure while cutting roughly $115 million of ongoing costs that would reduce part of the FY2009—2010 projected shortfall. Coloretti told the committee the city's projected FY2009—2010 shortfall is about $575.6 million; the mayor's midyear actions reduce the immediate-year need and lower the ongoing gap…
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