Springs budget ‘worse than worst-case scenario’
COLORADO SPRINGS ” Colorado Springs officials say the city budget is “worse than our worst-case scenario” after another decline in tax collections.
Terri Velasquez, the city’s chief financial officer, gave that assessment Monday when officials learned that January sales and use tax collections were down about 16 percent from a year ago.
January collections are based on December sales. It’s the 10th time in 12 months collections have declined.
City Council members are struggling to balance the budget amid the recession. They’re considering a proposal to lay off 80 workers and cut spending on bus service, road maintenance and other programs.
The city projects sales and use tax collections for 2009 will fall 12 percent short of the budgeted $123 million.
Information from: The Gazette, http://www.gazette.com
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