| Funding crunch
Two-year state operating budget: $76 billion Announced state spending cuts: $49 million, over three years City operating budget, FY 2009: $127 million City budget deficit FY 09: $1.8 million |
Governor Tim Kaine last week announced that nothing was off the table for spending cuts—including the usual sacred cow of education—in order to balance the state budget that could be close to $1 billion deficit by fiscal year 2010.
The city has been preparing for state cuts since April and so far has filled the gap between what the state is supposed to provide and what it actually has with contingency funds. But the deficit is expected to be $1.8 million by the end of this fiscal year in June 2009. As for Albemarle County, spokesperson Lee Catlin says that the county won’t release estimates on its cuts until after September 10.
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