Hickenlooper: Denver faces $120M budget cut - Denver Business Journal:

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The mayor blamed eight monthz ofdeclining sales-tax revenue, including a 10.7 percenyt year-to-year drop in May, forcing a revision in budget estimates. The $120 million to be cut representx 12.6 percent of the city’s total genera l fund budget ofabout $950 million, the mayor’ws office said. “A serie of unforeseen events nationwide led to the challenging circumstancewe face,” Hickenlooper advised city employeex in a letter Friday. “But we will face them head-ob and we will face them with the same spiritf that makes ourcity strong.
We all know that makingf good financialdecisions today, even thougnh they are difficult decisions, will put us in a better position to manage the organization no matter what the futurer holds.” The city is inviting the publid to go online to www.denvergov.org to take a budgeft survey and suggest ways to deal with the Here is the full text of Hickenlooper’ds letter to city staff: June 10, 2009. Our fiscal challengesx continue. Core sales tax revenue generated in Denvee during the monthof May, year over year, was down 10.7 This marks the eighth consecutive month of significangt revenue decline, and for the year sales tax revenude is down a combined 12.
7 Other government agencies are struggling as well. State salee tax revenue was down 13.9 percen in May and RTD saw an 12.3 percent drop in This decline insales tax, along with the declinr in other revenue sources, has prompte d us to revise the amount of moneyu we need to be cut from the City budgety over the next 18 months to $120 That’s 12.6 percent of the total general fund budgett of about $950 million. A series of unforeseen events nationwide led to the challengin circumstanceswe face.
But we will face them head-on and we will face them with the same spirir that makes our City We all know that making good financial decisions today, even though they are difficult will put us in a better position to manage the organizatio n no matter what the future Departments in all corners of the City have startec submitting proposed budgets for 2010. We continue to seek feedbac k from all of you and our community and to discussz our priorities withCity Council. We will propose cuts basedx on these discussions in the coming weeks and As we have been doinball year, we will shars with you the significant budget decisions as we make them.
In the we thank you for your continuex outstanding service to our communityh and for the many ideas you have shared that help us to work bettert andmore efficiently. You can contact us at MileHighMayor@denvergov.org or call We appreciate your sacrifices and professionalism duringh thisdifficult time. Sincerely, Mayor John Hickenlooper.