The undesignated, unreserved fund balance is expected to be just $50,000 at the end of Fiscal Year 2011, which runs July 1 through June 30, 2011. …
It’s supposed to be at 25 percent of what’s spent on an annual basis – about $7 million of the $28.2 million budgeted.
The fund balance will be at 0.18 percent under current financial projections.
The city’s plan to cut 25-30 workers was also discussed.
Though the voluntary separations and layoffs are expected to save millions, the upfront costs – like paying out accrued vacation time and other benefits – could be more than $1 million, Espiritu said.
To cover these upfront costs, it is proposed to extend debt another 20 years, which would free up about $1.4 million the next fiscal year for the buyouts and layoffs, along with pursuing capital projects.
Click on the following for more details: 2011 presents long-term budget challenges in DeKalb | Daily Chronicle
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