Last updated 8/8/2013 at Noon
As the City’s new Finance Director, I was asked by the Mayor to share a brief update regarding the upcoming 2014 budget.
The good news is, for the most part, there will not need to be budgetary cuts in the 2014 budget. Consumer confidence, low interest rates, an improving real estate market, and new car sales have stabilized the economy and caused growth.
The City General Fund is on track and revenues appear to be slightly stronger than budgeted. Real Estate Excise Tax (REET) revenues, which must be used for roads, parks and other infrastructure, have recovered reflecting the improvemen...