Albuquerque May Face Shortfall in Next Year’s Budget
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LNA,

Albuquerque city may face a shortfall of $14 million in next year’s budget. The shortfall is the result of federally mandated reforms for Albuquerque police department, reduced revenue from the state and other factors.

But, Mayor Richard Berry doesn’t think that shortage in budget is anything out of ordinary. Mayor Berry said that there is nothing in here that would lead us to believe we have to raise taxes or do anything drastic.

The $14 Million shortage in budget is twice then the last year’s $7.4 Million shortfall, but less than the $18 million shortfall estimated two years ago.

Mayor Berry said that $14 Million looks like a big negative number but frankly the way we go about doing this, that’s about an average number for the city of Albuquerque and we’ll be in fine shape going into the budgeting cycle.

The Mayor and the Albuquerque City Council will have to make adjustments and cut down the costs as they draft the new budget. Mayor must formally present his budget to the city councilors by April 1.

But, the budget prediction will have the Mayor and the City Council working hard. The prediction expects 3.2 percent growth in the economic sector and 1.2 percent increase in property tax revenue. The prediction includes $5 million on the costs of the agreement negotiated with the U. S. Department of Justice for the police reforms. Along with that it also includes hiring of new auditing and record staff. The other budget forecast include reduced revenues from the state, 1 percent raise for the city employees and new projects in the city.

City’s Budget Officer, Gerald Romero said that the financial picture may improve further before the a… MORE

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