BRADENTON — Saying everything needs to be on the table, City Clerk Carl Callahan told city council members today they need to find $3.3 million in cuts to balance next year’s budget.
“We’re getting a double whammy of decreasing revenues and increased costs,” Callahan said.
The city will see a 13.4 percent reduction in property values, meaning if tax rates remain the same as last year, about $1.7 million less in revenue.
On top of that are reductions in other revenues, such as sales taxes and fees.
With all the revenue shortfalls, Callahan expects to see a $2.5 million drop this coming fiscal year.
There also will be cost increases, with a pension payment of about $700,000 being one of the larger ones.