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Budget officer warns of growing revenue pressure; 2027 shortfall and additional downside risks could exceed $20 million
Summary
Budget officer Greg Hayes told council that 2027 baseline projections show a $6.3 million shortfall and that downside risks (weaker Leeds forecast, rising utility/contract costs) could push total pressures toward or above $20 million, prompting staff to plan both top-down and department-driven cuts.
Budget Officer Greg Hayes briefed the council on the city's fiscal outlook, reporting a mixed 2025 result but a weakening revenue picture for 2026 and 2027. He said operating revenues through March are running below budget and flagged sales and use tax weakness as a major concern.
Hayes summarized the Leeds School of Business forecasts and said the city's pro forma is now showing a 2027 starting…
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