OCR Text |
Show Revised j Budget Approved! Substantial revisions to j Park City's 1982-1983 budget i were approved by the City I Council March 3 to forestall piedicted large scale cash deficits at the end of the ! fiscal year June 30. j Revenues that are now j running almost 21 percent I behind budget could have j created an ending cash j deficit of more than $600,000 j should spending have con- j tinued at its proposed rate, according to Park City 1 Finance Director Jon Nelson. The revisions were detailed detail-ed in last week's Park Record and include spending cuts of more than eight percent in the general fund and the postponement of substantial capital improvement expenditures expen-ditures that were budgeted last June- The 63 percent reduction in the capital improvement budget is necessary, according accord-ing to City Manager Arlene Lobel. to subsidize other city funds that are now running at substantial deficits because be-cause of the revenue shortfalls. short-falls. Deficits appear in the general fund, water fund, landfill fund, and transportation transporta-tion fund budgets. |