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OMB flags $4.5M general‑fund gap, partial hiring freeze and reserves to cover shortfall
Summary
Shannon McHugh of the Office of Management and Budget reported a projected $4.5M general‑fund shortfall as of October, identified IT and self‑insurance as main pressures, announced a partial hiring freeze and cited existing reserves (about $1.4M expenditure reserve, $1.7M labor reserve) and $3M state aid as mitigants.
The Finance Committee heard an October monthly financial report showing emerging fiscal pressures and measures intended to hold the budget in balance.
Shannon McHugh, executive director in the Office of Management and Budget, told the committee the city is currently showing a roughly $4.5 million projected deficit in the general fund, with primary pressures coming from IT (about $2.5 million in overages), debt service and higher self‑insurance costs. "As of…
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