City Manager's Recommended 2013 Budget News Conference from 11/16/12.

News Release

Today, Cincinnati City Manager Milton Dohoney, Jr. presented his proposed 2013 budget to Mayor Mark Mallory that continues to invest in the growth Cincinnati has been experiencing while using five areas to address the $34 million deficit:
1. Cuts and Cost Shifting
2. Savings (from departments)
3. Revenue
4. Embedded Growth
5. One-Time Sources
These five areas work together as the recommended approach to continue on a path of growth.
While the City has worked to create more than 5,000 jobs in the past two years, revenue growth is not occurring fast enough to offset state-level policy changes that eliminate revenue coupled with the cost escalators that are driving the expense side, namely fuel, healthcare and pension.
The deficit number was exacerbated by the policy shift at the state level – the 50% reduction of the Local Government Fund and the elimination of the tangible personal property tax reimbursement and Estate Tax – eliminating a $22.2 million revenue stream from the City’s budget.
The Manager’s Recommended General Fund Operating Budget totals $368,906,520. It is for a one-year period from January 1 – December 31, 2013. However, because the City is transitioning to a new fiscal year, City Council is appropriating a budget for a six-month period. The six-month appropriation totals $177,603,950. There will be a subsequent vote taken prior to June 30 that will appropriate funds consistent with the new fiscal year.


Loading more stuff…

Hmm…it looks like things are taking a while to load. Try again?

Loading videos…