Indy Finance 102
My colleague Jon Murray today in the Indianapolis Star spells out Mayor Greg Ballard’s first step toward closing the city’s estimated $30-$65 million budget shortfall. It includes budget cuts, revenue increases and spending freezes.
According to Murray the Ballard’s highlights of the plan include the following…
- Postponing scheduled 3% raises for IMPD and IFD
- Elimination a city-county homestead tax credit (averaging $22 annually per household)
- Capturing $21 million from recent state payments
- Capturing another $10 million from the downtown TIF district
More details will be available Monday and Council Democrats are meeting this afternoon to discuss a strategy.
The way I look at the city budget is this, I think this is a good starting point for a discussion. And for those who want to play critic, you are entitled, but once again, please do everyone a favor, especially yourself, and bring up concrete solutions.
And I will take care of your first suggestion; rescind the pay raises for the 25th floor, done. Now go find another $64,850,000 and then you will have really accomplished something. And before I forget, public safety is 80% of your budget and before you start dissolving TIF districts you might want to check and make sure their bonds are paid off.
