The recession is taking its toll on city finances.
The city ended its most recent fiscal year with a budget shortfall of $1.46 million, according to the comptroller’s office, and is eyeing another deficit this year that could total more than $1 million. Read the whole story here.
Next year looks even worse
The city’s budget picture for next year is looking ever more ugly.
Finance officials said this week they believe it will cost $8 million more than the $170 million in this year’s city spending plan just to keep city services and schools plugging along.
But coming up with that much more money is going to pose some tough choices. Read the whole story here.
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