City Director of Finance Mickey Miller went before City Council Thursday to talk about the midyear status of the current fiscal year budget and the potential condition of the budget when the years ends Sept. 30. “Economy-related and market-related, revenues are down significantly,” said Miller, referring to the first six months. Unless something changes dramatically, Miller expects the City’s general fund to end the year with a deficit of $12.5 million, which will be made up through cuts, returns on premiums and tapping into the City’s reserves.
