City finds $3.4 million budget surplus - Cincinnati News, FOX19-WXIX TV

City finds $3.4 million budget surplus

By Corey McConnell - bio | email

CINCINNATI, OH (FOX19) - In a time when all we hear about are job cuts and budget deficits, the city of Cincinnati just learned they have an extra $3.4 million.

The extra money will be carried over in the city's budget from 2008, which is good news for tax payers.

Finance committee chair Laketa Cole says city services will not change, and taxes will not go up.

But, in the grand scheme of things, $3.4 million in a $1.3 billion budget won't mean major changes.

"That can be here today gone tomorrow particularly when you're talking about a large budget," said Cole. "We're talking about $2.1 million just in salt. More than half the money, gone already."

The city's already preparing for next winter, buying salt, in bulk early, and the $3.4 million will help melt next winter's snow.

At least one resident believes the money could go towards helping those who are hurting in this economy.

"A lot of things going on with people getting laid off, with $3 million, a lot more people can get jobs," said Cincinnati resident Arian Lane.

In looking forward, the city is preparing itself to have less revenue for 2009, because so many people are losing their jobs, which will result in less income tax revenue for the city.

Powered by Frankly