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Fiscal Update: City government faces budget deficit; Emergency funds from federal and state governments focused on COVID relief and economic stimulus.

April 22, 2020 presentation by City Budget Office (CBO) regarding budget deficit : CLICK HERE. The CBO currently estimates an ongoing budget deficit of approximately $300 million (out of our $1.7 billion General Fund and related accounts). The city government’s emergency funds are only $125 million. Cost savings such as rolling back pay raises for the highest paid city government workers may be necessary.

April 28, 2020 presentation by Mayor’s Office, City Budget Office, and Office of Housing regarding federal and state financial aid : CLICK HERE.

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