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March 31,2004 <br /> Today,I ask for your consideration and support for this 2004 budget <br /> amendment that will reduce our current spending levels and v111 better <br /> position the city to live within its means now and in the future. <br /> This plan matches 2004 revenues and expenses and significantly reduces <br /> the$9.e million revenue shortfall in the 2005 budget as well as the <br /> shortfalls in future years.We will continue to look for additional savings <br /> and opportunities to improve revenues throughout this year and beyond. <br /> Development of this plan has been a team effort with all city department <br /> directors providing creative ideas and solutions.But,the lob of matching <br /> revenues with expenditures has not occurred without challenges. <br /> To date,we can report the identification of$4.7 million of adjustments. <br /> These adjustments better position us to deal with the challenges of 2005. <br /> The adjustments are: <br /> •$1.21 million in unanticipated revenues. <br /> •$1.39 million in eliminating duplication of services, <br /> consolidations,staff reduction end reduction of <br /> ver-time pay. <br /> •$1.15 million in program reductions. <br /> •$982,000 in increased efficiencies and accounting adjustments. <br /> Them will be some city program impacts associated with these savings.A <br /> priority in dealing with balancing our bottom line hes been to thoughtfully <br /> and carefully identify reductions that minimize impacts to our core <br /> services,especially public safety. <br /> As I have repeatedly stated,I had hoped to avoid layoffs.After analyzing <br /> the city's financial data and prioritizing the services we provide,we have <br /> concluded 5 is not possible to avoid some reductions in staff at this time. <br /> Making these reductions now will help us avoid deeper and more severe <br /> cuts in the future. <br /> 101 <br />