Wednesday, November 26, 2014
Inquirer Daily News

City On Track to End Year $31 Million in Red

The city is on track to end the fiscal year $31 million in the hole, Budget Director Steve Agostini told City Council members during a briefing today.

City On Track to End Year $31 Million in Red

The city is on track to end the fiscal year $31 million in the hole, Budget Director Steve Agostini told City Council members during a briefing today.

Agostini attributed the downturn to a number of factors, including a decline in the city's expected wage tax revenues and a loss of state funding for social services and police. The overall deterioration was offset somewhat by better than expected revenues for the business privilege tax and the real estate transfer tax.

The budget office has already asked city departments to look for ways to cut 7.5 percent from their budgets for FY11. Agostini said some cuts may start during this fiscal year, but he did not detail what form they would take. He stressed that the city is closely reviewing every hire and expenditure to try and find savings.

Clay Armbrister, the mayor's chief of staff, stressed that the city still has financial pain ahead despite a turbulant year of budget cuts and tax hikes.

More coverage
 
Budget blues again
 
Council just can't get enough PR help

"We're not out of the woods by any means," Armbrister said.

About this blog
Chris Brennan, a native Philadelphian and graduate of Temple University, joined the Daily News in 1999. He has written about SEPTA, the Philadelphia School District, the legalization of casino gambling, state government, the mayor, the governor, City Council and political campaigns. E-mail tips to brennac@phillynews.com
 Follow Chris on Twitter

Jenny DeHuff is a 2005 graduate of the University of Rhode Island, where she cut her teeth in journalism. A South Philly transplant from New England, she joined the Daily News City Hall Bureau in 2013. For the past several years, she has worked as an investigative reporter exposing corruption in suburban politics, covering sometimes ghastly criminal court cases and following the people’s money and how its spent. In addition to being a dogged news hound, she enjoys reading and writing about travel, animals, Irish whiskey and aviation. E-mail tips to dehuffj@phillynews.com
 Follow Jenny on Twitter.

PhillyClout Team
Also on Philly.com
Stay Connected