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7 results for “budget deficit” · budget

  • 2023-2024 Proposed Budget Summary Introduction

    Seattle, WA
    Budget

    Seattle's 2023-2024 Proposed Budget, the first under Mayor Bruce A. Harrell, totals approximately $7.4 billion in appropriations, including $1.6 billion in General Fund and $294 million from the JumpStart Payroll Expense Tax. This is the first biennial budget since the COVID-19 pandemic disrupted the city's normal budgeting cycle, and it addresses a significant General Fund deficit while prioritizing housing and homelessness, public safety, access to opportunity, healthy communities, climate and environment, transportation, and good government. Despite 40-year-high inflation, General Fund expenditure growth is held to effectively flat at 0.03% over 2022 levels, with the budget balanced partly through payroll tax revenue and conservative spending measures aimed at replenishing reserves.

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  • ADOPTED 2021 BUDGET

    Indianapolis, IN
    Budget

    The Consolidated City of Indianapolis-Marion County adopted its 2021 balanced budget, the fourth consecutive balanced budget since 2010, which eliminates the structural budget deficit while maintaining conservative spending due to COVID-19. The budget prioritizes public safety funding for 1,743 police officers and 1,220 firefighters, including technology investments such as body cameras and an updated computer-aided dispatch system, along with criminal justice reform, infrastructure investment exceeding $500 million, and community development initiatives including crime prevention programs, homelessness and food insecurity support, and economic development projects. The budget honors all collective bargaining commitments and continues funding for the Community Justice Campus construction.

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  • phoenix - community budget guide

    Phoenix, AZ
    Budget

    The Phoenix Community Budget Guide outlines the city's fiscal structure and challenges. Phoenix's 2025-26 General Fund faced a baseline deficit of $36 million, with projected shortfalls of $83 million in 2026-27 and $6 million in 2027-28, primarily caused by state legislative actions eliminating residential rental sales tax (SB 1131) and reducing the individual income tax rate to 2.5 percent (SB 1828). On March 18, 2025, the City Council approved budget balancing strategies including an increase to the Transaction Privilege Tax and Use Tax rate from 2.3 percent to 2.8 percent, effective July 1, 2025, resulting in a projected one-time General Fund surplus of $17 million for 2025-26. The document describes the city's budget structure, revenue sources, operating costs for public safety and community services, and the budget process including a planned City Council adoption in June 2026 with community input opportunities at phoenix.gov/budget.

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  • City of Spokane 2025-2026 Budget Overview Executive Summary

    Spokane, WA
    Budget

    The City of Spokane's 2025-2026 biennial budget totals $2.5 billion and addresses a projected $60 million General Fund deficit inherited by the new administration through conservative revenue assumptions, a 1% property tax increase, and a 22 FTE position reduction to manage costs without depleting reserves. Key budget priorities include public safety, housing, and economic development, with personnel costs comprising 85 percent of operating expenses across 2,434.5 FTE positions serving over 230,000 residents. The budget assumes passage of a Community Safety Sales Tax initiative and projects conservative sales tax growth of 2% in 2025 and 2.9% in 2026, with the General Fund comprising approximately 22 percent ($535.2 million) of the total budget.

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  • JACKSON TOWNSHIP AUDIT REPORT - 2009 EXECUTIVE SUMMARY

    Jackson, MS
    Budget

    Jackson Township's 2009 audit, completed March 23, 2010, expressed a "clean" opinion on the financial statements with no problems identified, unusual transactions, or disagreements with management. The township reported total 2009 revenue of $2,347,468 and total expenses of $2,617,502, resulting in a deficit of $270,034. Cash balances as of December 31, 2009 totaled $1,207,194, comprised of the General Fund ($72,807), Capital Projects ($994,773), Highway Fund ($103,587), Senior Activity Center ($33,459), and Other ($2,568). Revenue sources included transfers in ($875,842, 37%), taxes ($560,909, 24%), state funds ($441,960, 19%), landfill revenue ($303,737, 13%), and other sources totaling less than 10%. Major expense categories were transfers out ($875,842, 33%), streets ($451,110, 17%), public safety ($407,144, 16%), general government ($262,571, 10%), and recreation ($259,030, 10%).

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  • Revenue Overview Revenues

    Nashville, TN
    Budget

    This revenue overview document outlines the fiscal foundations of Metro Nashville's budget, emphasizing that deficit financing is prohibited by Tennessee Law and the Metropolitan Charter, requiring expenditures to be matched by equal revenue and fund balances. The document identifies property tax and sales tax as the largest revenue sources and notes that Tennessee's economy is projected to grow 2.5% in 2025-2026, with Nashville leading this growth supported by a diversified economy, low unemployment (3.0% as of February 2025), and relative stability despite inflation concerns and potential federal funding uncertainties. The document provides background on Metro's revenue sources and economic trends affecting budget feasibility, with detailed revenue projections included in the accompanying budget ordinance.

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  • 2022 BUDGET 2023 BUDGET SEP22-NOV22 3 MO ACTUAL 2023-B 3 MO BUDGET

    Shelbyville, IN
    Budget

    This document presents Shelby County, Illinois's general fund budget comparison for fiscal years 2022 and 2023, along with actual revenue and expenses for the three-month period September–November 2023. The 2023 budget increased total revenue to $7.29 million (from $5.05 million in 2022) and budgeted expenses to $7.30 million (from $5.83 million in 2022), resulting in a projected deficit of only $6,500 compared to $772,148 in 2022. Major revenue sources include real estate tax distribution ($1.95 million), state income tax ($1.66 million), and state sales tax revenues ($776 million combined), with the three-month actual performance showing revenue of $1.91 million against expenses of $1.35 million.

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