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Office of Communications Gwen Campbell Media, Community & Education Relations Tel. 318.673.5062 / Fax: 318.673.5087 gwen.campbell@shreveportla.gov | ||
At least one local media outlet has incorrectly reported that the City of Shreveport is running a $3.6 million budget deficit for 2009. However, as has been stated since the budget process began, the City’s budget has been managed such that the operating reserve will be almost doubled to over $6 million by the end the 2009 budget year. Clearly, that does not reflect a budget deficit. | “Because of the hard work of our City Council, Administrative staff and Department Heads in controlling spending and otherwise doing more with less, I do not want the public to be misled,” says Mayor Cedric B. Glover. “We do not have a budget deficit and we will go into 2010 using the same conservative approach to fiscal responsibility.” | A 2009 Budget Amendment submitted to the City Council by the Mayor includes an adjustment in projected sales tax revenue that reflects $3.3 million less in sales tax receipts for 2009. While a significant part of city revenues, sales tax are not the only source. Combined with controlled spending and reduced expenses, the City will be in position to add to its operating reserve entering into the 2010 budget year. With the addition of the funds received as a result of the leasing of city-owned mineral rights in the Haynesville Shale, the operating reserve may be increased even more. | The City Council is currently in the process of reviewing the Proposed 2010 Operating Budget with the Administrative Staff and Department Heads. All budget review sessions are open to the media and the public and are held at 5:30 p.m. in the Mayor’s large conference room. | A detailed schedule of the 2010 Budget Review Sessions and the complete 2010 Proposed Budget are available for viewing on the city’s website at: www.shreveportla.gov. | ### |
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