Youngstown could face $16M deficit by 2023
YOUNGSTOWN — If the city doesn’t make significant changes to its finances, it will face a $16 million deficit by the year 2023, according to a forecast given tonight by a CPA hired by the Mayor Jamael Tito Brown Administration.
The presentation from Michael Abouserhal, the city’s financial consultant and a former Ohio Lottery Commission executive director, called for several recommendations to avoid the deficit including asking employees to forego salary increases for 2019 and 2020 – for most, that’s 1 percent and 1.5 percent, respectively – as well as implement mandatory furlough days, increase the employees’ contribution to health insurance premiums from 10 percent to 20 percent, reduce overtime, possibly sell or close the Henry Stambaugh Golf Course, contract for lease of snow plowing, and reduce staff – particularly in the fire department and the clerk of courts/municipal courts.
“These are very difficult to implement and are subject to negotiations,” Abouserhal said. “Tough decisions need to be made.”
For the complete story, read Tuesday’s Vindicator and Vindy.com