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Adams warns of deficit

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High Five
Wednesday, April 07, 2010

Portland Mayor Sam Adams issued a memo to City Council saying the city's current budget needs to be changed in order to avoid future deficit.

Adams said the city will receive $2 million to $4 million less than expected in business license fees, but city bureaus are spending at a faster rate than previous years.

If revenue and spending trends continue, the city could end next year's budget with a $2 million deficit, the memo says. That would violate the Oregon Constitution, which requires the state and local governments to balance their budgets every fiscal year.

As a result, Adams is directing bureaus to take a number of immediate efforts to slow down their spending. Steps include an end to non-emergency overtime, cancellation of all optional consulting contracts, and mandatory approval of expenditures of more than $10,000.

Read the full story at the Portland Tribune.

{biztweet}Portland budget deficit{/biztweet}

 

Comments   

 
The bottomline
0 #1 Makes senseThe bottomline 2010-04-07 13:32:16
Duh!

by The Department of Duh!
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Just plain Dick
0 #2 Just plain Dick 2010-04-07 15:10:33
Take the "BIKE MONEY" and pay up! Have we heard the word "CUTBACKS" We should have recalled the whole bunch.
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