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Sunday, May 19, 2013
Covering Dallas, Monmouth, Independence, Falls City and surrounding areas since 1868
July 02, 2012
INDEPENDENCE -- The city of Independence used reserves to shore up a $270,000 shortfall in the 2012-13 budget it adopted recently.
City leaders decided not to cut staff or reduce services for the coming fiscal year. They will, however, revisit the budget in the next three to six months to determine whether reductions or additions will be needed.
The $15.5 million budget went into effect on Monday.
Major factors behind the city's financial issues include low revenue from Independence's urban renewal district and inaccurate tax projections in 2006 that were based on the premise of a finished Independence Station.
Debt payments on the Civic Center and the sluggish economy have also taken a toll.
The city opted to keep expenses almost intact for the time being, with a 1.4 percent overall reduction, instead of repeating the heavy cuts to staff similar to 2011-12.
ACEBOOK