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| Galesburg Aldermen to Take Up Key Budget Amendment |
The City of Galesburg says the economic downturn is nowhere near resulting in the city going bankrupt, but it is causing a pretty significant hit to the city's budget.
The Galesburg City Council Monday night will be asked to approve an adjustment to the current calendar/fiscal year budget - essentially cutting about $775,000 out of it in revenues.
Galesburg City Manager Dane Bragg tells W-G-I-L the cuts couldn't be helped, given the first tentative budget was presented to aldermen before the word "recession" was thrown around.
"The largest drop that we're dealing with is in the form of the state income tax that is shared with the municipalities. We're projecting that our state income tax is gonna decrease between 9.7% and 16% from what was projected originally. And when I say projected originally, those projections come from the state and the Illinois Municipal League."
Bragg says the cut in projected revenues will mean that revenues will actually be flat this year and not increase or decrease - which he says leaves Galesburg in a better state than Peoria, the Quad Cities, and elsewhere throughout central Illinois.
Bragg says no cuts in services or staff will be expected, but city departments are being asked to restrict expenses where they can.
The City Council will also hear a presentation on the study done looking at how to better the East Main Street corridor area.
That presentation is at 6:30 - the regular council meeting starts at 7:30 - all in council chambers at Galesburg City Hall. |
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| 04 19 09 by Newsroom |
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