Louisville Faces $20 Million Budget Shortfall, Cuts Ahead
Louisville faces a projected 20-million dollar shortfall through the end of the fiscal year. Mayor Jerry Abramson has issued a travel and hiring freeze… and that’s just the beginning.When the current budget was crafted in May, it contained a projected two-point-nine percent revenue increase… over the first quarter of the fiscal year, revenues have actually fallen one-percent. Abramson says that means a 20-million dollar shortfall if the trend continues… and possibly more if the national economic picture worsens."The day of cutting around the fringes is over, and we’re going to have to go into some programs, we’re going to have to go into some services, and I’m afraid this is the one folks will ultimately feel," says Abramson.The hiring freeze gets nowhere close to freeing up 20-million dollars. Abramson will decide over the next few weeks where layoffs and unpaid furloughs may be needed, in addition to possible cuts in city services.