I still think the BOE budget could be tweaked further, but the approach of the Moccia administration is to cut the city operating budget. A painful process, since much of what we experience in Norwalk has that just looks like its falling apart look. I speak of roads, remember Osborne, and sidewalks, and the rest of the usual suspects. From The Hour:
The directive came as a result of concerns over reduced revenue projections, including state aid and the real estate conveyance tax, as well as reduced projections for investment income.
“We had put our budget projections on interest income together in December, really before all of these major reductions in interest rates by the Fed,” Hamilton said last week.
The city can expect $825,000 less in interest income than was anticipated in December. In addition, the city anticipates a $690,171 reduction, as compared to the December projections, in state aid and other intergovernmental revenues, according Hamilton.
“The town is going to be reviewing all the accounts. I’m hopeful that between everybody helping out, and what we may ultimately recommend to the Board of Ed — about a 4-percent increase — that we can close that gap,” Moccia said Tuesday. “We’re getting there. It ain’t easy.”
The Board of Estimate and Taxation, upon which Moccia sits, and the Common Council’s Finance and Claims Committee are scheduled to hold a public hearing on the draft 2008-09 operating budget at 7:30 tonight in the concert auditorium of City Hall, 125 East Ave.
source: The Hour, Trimming of budget has long way to go, March 26, 2008
