Councilman: city budget hole is deeper than we thought | Politics
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The results of an independent financial audit are in, and the results are not pretty for the City of Tacoma.
Councilman Jake Fey told members of the Sixth Avenue Business District this morning that the actual general fund shortfall is about $2 million more than what was originally thought, due in part to a decline in projected sales tax revenues.
"It isn't good news," he said Tuesday. "[It's] probably a hole that is a few million wider."
Instead of the estimated $31 million shortfall, the city's general fund is probably missing closer to $33 million, he said.
"We're going to be obviously having to make some tough decisions," Fey said.
The City Council called for an independent financial audit last month, examining projected revenues and expenditures for the city from 2012-14 before making a final call on proposed cuts to public safety.
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