* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)
Introduced by: President Rawlings-Blake, Councilmember Young
A RESOLUTION ENTITLED
A COUNCIL RESOLUTION concerning
title
Informational Hearing - The State of the Baltimore City Budget
FOR the purpose of requesting the Director of Finance and the Chief of the Bureau of Budget and Management Research to report to the City Council on the current state of Baltimore City's budget, the state of the City's finances at the close of Fiscal 2009, the fiscal forecast for the first quarter of Fiscal 2010; and the projected impact of State and local budget shortfalls on the fiscal health of the City, the employment security of City personnel, and the delivery of services to Baltimore City residents.
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Recitals
In mid September 2009, the State Board of Revenue Estimates reported that Maryland faces a projected budget shortfall of nearly $2 billion next year. The shortfall, much more than had been anticipated, became clear when updated projections showed a $920 million drop from previous revenue estimates, on top of the expected shortfall of more than $1 billion. State officials now predict that Maryland's economy will not begin to rebound until 6 months later than originally predicted - the middle of next year.
The latest report exacerbates an already tough fiscal climate. State aid to Baltimore will be reduced by $35 million. This $35 million reduction, coupled with an additional $25 million shortfall in local revenues projections, has left the City facing a revenue gap of some $60 million.
As a result furloughs and layoffs have already been announced as well as $12 million in cuts to City agencies and the use of $10 million of "undesignated surplus" funds will be used to fill this shortfall.
In order to facilitate informed and responsible legislating on behalf of the residents of Baltimore City and the agencies of local government, it is imperative that the Council be given an official account of projected revenues and shortfalls as well as the impact of any future cuts in State aid and be kept fully informed of the state of the Baltimore City budget.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF BALTIMORE, That the Director of Finance and the Chief of the Bureau of Budget and Management Research are requested to report to the City Council on the current state of Baltimore City's budget, the state of the City's finances at the close of Fiscal 2009, the fiscal forecast for the first quarter of Fiscal 2010; and the projected impact of State and local budget shortfalls on the fiscal health of the City, the employment security of City personnel, and the delivery of services to Baltimore City residents.
AND BE IT FURTHER RESOLVED, That a copy of this Resolution be sent to the Mayor, the Director of Finance, the Chief of the Bureau of Budget and Management Research, and the Mayor's Legislative Liaison to the City Council.
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