The latest figures for the 2008 fiscal year, which ended Monday, show the city collected less than the $438 million it had anticipated.

Announced yesterday, the numbers are preliminary and may change but are still cause for concern, said Uri Monson, who yesterday was named the authority's executive director, a position he had held in an acting capacity since December.

"In general, it probably means there was less business activity overall. . . . It's something we want to watch pretty closely," Monson said.

There are not enough data yet available to assess how much of the $30 million stemmed from a drop in the net-profits portion of the business-privilege tax, versus the gross-receipts portion, Monson said.

Since other city taxes brought more revenue than projected - including the city wage, parking and real estate taxes - the steep drop in the business-tax revenue will leave the city with a hole of $5 million to $7 million, not the full $30 million, Monson said.

The authority, which held its annual meeting yesterday, voted to approve a Nutter administration request to issue a $27.5 million bond for citywide building projects. The city controller and Council President Anna C. Verna also requested the money.

Of the total sum, $9 million will be spent on improving the Central Library of the Free Library, with most of the dollars going toward the Beaux Arts building, which houses seven million items.

Also, $5 million will be used to renovate city Fire Department facilities, including the installation of fire-alarm systems at 16 department facilities and the replacement of seven roofs.

Another $5 million will fund improvements to various Police Department buildings, including $1 million worth of work at the department's headquarters.

The Police Department also will get $5 million to build a new SWAT/Bomb Squad facility and $3.5 million to renovate the existing warehouse, evidence-storage and tactical facility, which was built in the 1930s and does not meet building codes and standards.

The projects were highlighted as priority fixes in an architectural and engineering study the authority commissioned last year.