$8 million in the hole
West Covina officials are forecasting an $8 million deficit next fiscal year, according to reporter Dan Abendschein.
Apparently, the city has released a report that anticipates expenditures in 2008-09 will go up by $4 million.
Problem is, the same report predicts revenues will only increase by about $500,000.
Now I'm no math major, but that cost-benefit analysis just doesn't seem to add up.
City staff members will be presenting ideas to the City Council Wednesday on how to cut down on the preliminary $8 million deficit.
City Manager Andrew Pasmant told Dan some of those include an across-the-board cut for each city department, early retirements and hiring freezes.
Read the full story here.
Comments
As West Covina residents how can we possibly believe that the five councilmembers have not kept an eye on the citys budget. Where the heck is their finance director and city manager? We all realize that we are all headed towards very difficult economic times. They need to start triming the fat at city hall starting at the top with the city manager, department heads and any other high paid employeees. What does a councilmember get including perks, medical, dental, travel, and other monies? Please let us know. WE trusted you with our hard earned tax dollars. This is unexceptable and it is no way to run a city.
Posted by: West Covina Residents | May 15, 2008 4:20 AM