April 27, 2010 > Newark Five-Year budget forecast adopted
Newark Five-Year budget forecast adopted
By Meenu Gupta
Newark faces challenges as a result of budget deficits. The budget reductions have required the City to make reductions in its use of reserve funds, reduce staff pay and hours for city employees, eliminate programs and close two facilities - the Senior Center and the Community Center. In February 2010, 28 full-time positions were cut besides reducing hours for an additional 15 city employees. These cuts reduced the budget deficit by $3.5M.
City Manager John Becker presented the final draft of the five-year forecast, which was adopted. The forecast includes budget and strategic plans, as well as development, economic and financial forecasts. The Five-Year Forecast serves as the basis for preparing the 2010-2012 Biennial Budget and Capital Improvement Plan (CIP). The budget deficits in the Biennial Budget will be presented to the City Council in May.