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Campbell, in fiscal emergency, wipes out $463,000 deficit



Published: Sun, February 21, 2010 @ 2:00 p.m.

By Jeanne Starmack

The budget now has a surplus.

CAMPBELL — The city has eliminated a $463,000 deficit in its 2010 budget, though Council President William Vansuch is loathe to call the budget “balanced.” “I hate that word,” he said after council’s meeting last week, when the lawmakers introduced several more amendments that contain revisions to the budget.

“How can we have a balanced budget when all our revenues are anticipated?” he asked.

Nonetheless, he said, the budget is in compliance with the requirement of a state commission that is overseeing the city’s finances because it is in fiscal emergency.

The state Financial Planning and Supervision Commission for the city of Campbell told the city in December to eliminate the deficit.

City administrators and officials worked on the budget for weeks.

Rather than a deficit, the budget now has a surplus of $29,012, according to figures provided by the city’s finance director, Sherman Miles.

The change was achieved through cuts, savings and an increase in estimated revenues, said Miles and Paul Marshall, who chairs the state oversight committee.

Read the full story Monday in The Vindicator and on Vindy.com.


Comments

1Millie(192 comments)posted 4 years, 6 months ago

Why do you always get the feeling that government finance figures are always suspect?

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2jr99(88 comments)posted 4 years, 6 months ago

How do you go from a $463,000 deficit in December, to a surplus of $29,000 now???

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3Mer1(28 comments)posted 4 years, 6 months ago

Here's how: You overestimate your tax revenues. Then when these tax revenues come up short a year from now, you will still have a huge deficit. This is all smoke and mirrors.

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4mrblue(974 comments)posted 4 years, 6 months ago

There is a town hall meeting tomorrow night at 7:30 at city hall. That would be a good time to ask how the city now has a surplus. What were the cuts that were made? Are there going to be lay offs? I think that the above writer is correct and the budget is an estimate of tax revenues. Is the city still in fiscal emergency?

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5jrolley325(799 comments)posted 4 years, 6 months ago

awesome. maybe you can fix struthers-liberty road now.

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6UnionForever(1470 comments)posted 4 years, 6 months ago

Campbell is full of DemoCROOKS who are lying to it's citizens again!!! Everyone knows the budget is not balanced. Why lie to the citizens? It's time to cut the generous pay, benefits, and pensions for all city employees. The taxpayer can no longer afford these in this economy and it will only get worse unless they get changed and now.

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7genius_girl(20 comments)posted 4 years, 6 months ago

UnionForever

Please enlighten me as to who is getting the generous pay and benefits in the city? I am curious.

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8cmhs68(134 comments)posted 4 years, 6 months ago

I told all of you to wait and see what Mayor Krinos does with the budget. The first budget the finance director submitted was a neg 465k. The state rejected it. The second was a neg 463k, so Mayor Krinos did his own budget eliminating alot of fat. After that the finance director started to work with the state using Mayor Krinos budget as a foundation. There are some changes the finance director made in this budget that the Mayor does not agree with so he will not support it.
The only way the finance director was able to get a positive number was to lay off people. Where the Mayors budget didnt lay anyone off and actually has a higher surplus of almost 140k at year end.

Council will not pass it so the state can review it. This budget is not the Mayors he actually has a better stronger budget for the city. However it was the Mayor that made the finance director do his job becuase Mayor Krinos showed the council and the finance director a positive number can be done.
Thank you Mayor Krinos

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9L0L(648 comments)posted 4 years, 6 months ago

"It's time to cut the generous pay, benefits, and pensions for all city employees"

Who the hell is getting these things? Look up the "generous pay" in the city of campbell compared to peer communities.

Also the finance director is an idiot. Hopefully the council will FOR ONCE look into what the mayor came up with so the budget can be properly done. Its sad when the mayor has to do the finance direcotrs job because he cant do it. And its even more sad that the council blocked the mayor from replacing the inept finance director.

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