Richmond Mayor Dwight C. Jones announced today a projected $30 million budget shortfall in the next fiscal year and said layoffs, furloughs and service cuts may have to be considered.
In a breakfast meeting with City Council, Jones outlined no specifics but said his proposal to close the gap would not include an increase to the real-estate tax.
"It’s my firm belief that we can’t tax our way of it. We can’t even cut our way out of it," the mayor said, calling for officials to consider new funding sources and different approaches to government.
Jones announced some good news for the current budget year, which ends June 30. He said a $10.3 million shortfall that was projected late last year has been revised to $2.8 million as a result of improved real-estate tax and other revenue forecasts.
Administration officials said they would outline plans to address the shortfall for fiscal 2010 at the council’s finance committee meeting on Jan. 21. Jones said he would like to submit his budget for fiscal 2011 on April 7 — one month later than usual.
"It’s inevitable that we’re going to have to make painful decisions and that process starts now," the mayor said.
Email
Facebook
Google
Twitter
Favorites
More
Advertisement