In case you’ve forgotten, Mayor Hick will be in District 9 tonight to discuss the City budget with neighborhood residents. The meeting starts at 6:30 and takes place at the Ashbury Events Center, 3011 Vallejo St. If you’re planning to attend, you might want to read the Bell Policy Center’s analysis of the State of Colorado’s budget, which has a significant impact on the City of Denver’s budget situation. Here’s an excerpt:
State revenues will fall about $250 million short of appropriations for the fiscal year that ends next week, according testimony today by state economists before the Joint Budget Committee. Estimates from the economists are worse than their projections in March and show that the state’s economy was weaker than anticipated in the second quarter. . . . .
Individual income taxes dropped more than expected in the last three months, accounting for most of the difference from March’s projections. Sales taxes were also down due to the continued decline in sales of automobiles and other big ticket items such as furniture, electronics and appliances. . . . .
General Fund revenues for fiscal year 2008-09 will drop by about $1 billion, or almost 14 percent, from the previous year, according to economists from both offices.
Some difficult decisions will have to be made regarding the City budget, and cuts are inevitable. Tonight is your chance to let the Mayor know which parts of the budget he should protect most vigilantly.
