Mayor Has Balanced Budget
From a press release issued by City Hall:
Amid final deliberations over the budget, Mayor Joshua J. Cohen declares that his revised fiscal year 2011 financial proposal will balance the City budget without raising the property tax rate.
The mayor will present his budget amendment Thursday, June 3, at the work session of the City Council. The package proposes millions of dollars in additional cuts and other changes to offset further declining revenues. The mayor’s proposal will maintain a required 10 percent reserve across all funds and lays out a clear course of action to replenish the cash reserves in the coming years.
“The public has spoken loud and clear about how we should tackle this budget crisis,” Mayor Cohen said. “We understand the government should not bail itself out to get through this crisis.”
The work session will start at 1:15 p.m. in the City Council Chambers. The event will be aired live on City TV (Verizon Channel 34 and Comcast Channel 99/100).
As a reminder, the public is invited to formally comment on the budget at a special meeting of the City Council on Monday, June 7. The meeting begins at 6:30 p.m., and the council is expected to pass the budget that night.