San Jose has revealed a significant budget shortfall of $60 million for the upcoming fiscal year, up from the initial $39 million estimate. The increase has largely stemmed from an 11% decline in sales tax revenue. In response, the City Manager's Office plans to propose $50 million in budget cuts across various departments, including police and fire services. The proposal could lead to job cuts as city departments prepare their budget plans. Evaluations will continue, with new revenue strategies, including a potential ballot measure, being considered for future cycles.
The unexpected budget shortfall of $60 million reveals a challenging fiscal outlook for San Jose, prompting talks of funding cuts and layoffs.
The projected increase in long-term fiscal stress reflects a substantial drop in sales tax revenue, compelling city officials to reconsider budget strategies.
Collection
[
|
...
]