- Associated Press - Tuesday, January 28, 2014

PHOENIX (AP) - Growing expenses and slower than anticipated growth in sales tax revenue has Phoenix officials projecting a budget shortfall in the coming fiscal year.

The Arizona Republic (http://bit.ly/1edteTN ) reports that the shortfall in the $1.2 billion general fund is estimated at between $26 million and $52 million.

The deficit follows recent improvements in the city’s fiscal condition, which suffered during the depths of the Great Recession.

Acting City Manager Ed Zuercher says cost increases contributing to the shortfall include pension contributions, insurance and replacement of aging vehicles.



Click to Read More

Click to Hide