SLO County facing $2.9 million deficit
October 16, 2012
San Luis Obispo County administrators are forecasting a $2.9 million deficit for the 2013-14 general fund budget, which is in line with previous predictions. [SantaMariaTimes]
At a strategic training session last week, County Administrative Officer Dan Buckshi said that variables could drive the deficit from zero to $5 million.
The budget is based on a number of assumptions including a revenue increase of 1 percent, stagnant employee levels and a 1.5 gain in property values, which would be the largest increase in years.
But the county’s budget does not take into account reductions in grant funding or state budget actions.
Nevertheless, Buckshi said if the county continues with its seven-year financial plan, the gap between income and expenses should reach zero in 2014-15.