Tuesday, January 09, 2007

EXTRA: Arlington Budget Not As Bad as Feared

The funding gap in the county’s 2008 budget is projected to be “substantially less” than originally estimated, Mary Curtius, a spokesperson for the county, said today. With commercial real estate assessments higher than expected, the county manager’s office learned this week that the gap is not projected to hit the $20 million they originally feared. The county budget, including school funds, runs about $1 billion annually.

The economic juggernaut that was Arlington housing is rolling more slowly, and with it, the tax receipts to the county have shrunk. The county is still facing a large gap that Ms. Curtius could not estimate. Budget cuts, or slower spending growth, are still expected.

The county manager’s office is preparing the budget for the county board to consider at their February meeting. The board is expected to finalize the budget in April after debate and public input. The new budget takes effect July 1.


Post a Comment

Links to this post:

Create a Link

<< Home

This page is powered by Blogger. Isn't yours?