Indianapolis — $50 million. That's how much less city leaders will have to work with next year to keep Indianapolis running. They're now trying to find ways to cut costs while delivering the same services to residents.I'm not sure how Reynold could claim he was expecting a reduction about half this size if he had been following the downwardly spiraling state income tax collections over the past couple of years. Indianapolis residents will be ready to burn Mayor Greg Ballard at the stake (only a figure of speech) when they see the deep budget cuts that will occur in the delivery of basic city services after he just approved a $33.5 million give-away to billionaire Herb Simon and his Indiana Pacers at the same time he has been backdooring tax increases on average taxpayers.
The city controller said the deficit is a reflection of the nation's downward economic spiral.
"It's caused by the wages in Marion County being down from the prior year. The amount that we get in 2011 reflects the economic activity of 2009," said City Controller David Reynolds.
The controller was anticipating an 8% drop but the final number is actually a 15% reduction in revenue.
Indianapolis Mayor Greg Ballard will announce his budget proposal for next year later this month.
Wednesday, August 11, 2010
City Confirms $50 Million Shortfall
You read about it out here two days ago. Fox 59 News confirms from City Controller David Reynold that revenues for the 2011 city budget will be at least $50 million less than this year.