Tuesday, May 22, 2012
It looks like another tough budget year for Wichita. The City of Wichita has seen limited revenue growth since 2008, and city leaders don't expect to see much growth until 2014.
Bob Layton, City Manager, reported valuation isn't growing as expected, interest earnings are declining and are lower than expected. Jail fees the City has to pay to Sedgwick County also took a huge bite out of the city's budget.
City leaders originally projected a $1.3 million deficit in 2012, but after adjustments that has changed. Now it looks as if the budget will be balanced. The news not so good for the future. In 2013 it looks as if the city will face a $2.4 million deficit and a $5.5 million deficit in 2014.
The manager will present his recommendations based on council feedback, public input and staff proposals in the next few weeks. The public will be able to comment on August 8 with the council adopting the budget August 15.