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City Facing Lack of Fiscal Flexibility for 2016 Budget

May 29th, 2015 by WCBC Radio

Facing a continuing decline in property tax revenue, Cumberland officials are looking at a bare essentials fiscal year 2016 budget of about $43.4 million, which includes funds for fighting blight, increased costs for employee health care and higher debt payments. Part of the budget plan is to increase sewer rates by ten percent. City Administrator Jeff Rhodes says the  decline in property tax revenues is one of the biggest problems the city has faced over the years, pointing out that between fiscal year 2015 and fiscal year 2016, the assessable tax base in the city declined more than $24 million, cutting $233,277 from the city’s available revenues for 2016. Rhodes said that financially, the city of continuing to make progress, however there isn’t a lot of fiscal flexibility at this point…





 

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