Overview

• The administration proposes a flat rate just under 52¢ per $100 to fund a $7 billion budget, yielding about $1,530 for a $300,000 home.
• Finance staff project this year’s gap will widen to more than $128 million from a $76 million plan and the fund balance will slip by about $52 million to around $322 million.
• The city could raise revenue by roughly 4%—nearly 2¢ on the rate—without voter approval, reducing the shortfall by about $53 million.
• Controller Chris Hollins said the budget now presents a choice to raise taxes or deepen deficit spending, while Budget Chair Sallie Alcorn warned the next-year shortfall could top $220 million.
• Council set a public hearing for next week on the rate and is weighing a final vote for Oct. 15, as Whitmire rejects a garbage fee and emphasizes further efficiencies.