Kathleen ‘Mac’ McBride, the City of Northfield’s Finance Director, presented a draft of the 2009 budget at a public hearing during Monday’s Council meeting. She emailed me her Budget Handout (one page PDF) as well as her Powerpoint presentation of the budget (25 page PDF).
See the Nfld News article titled Hearing on budget brings few speakers for more.
The proposed budget is expected to increase city property taxes on a $250,000 home by about $36 a year, or 3.7 percent. Tobe Barksdale, a First Street resident, pointed out that the levy had increased dramatically, almost 25 percent since 2006.
Another resident, Victor Summa, who recently ran for city council, applauded the efforts of the city’s finance director, while expressing distress that in order to balance the budget, city officials had to cut nine city jobs. The net effect of those cuts, city Finance Director Kathleen McBride said, is $317,000 for 2009.
The State of Minnesota releases its budget forecast today. The Strib is reporting this morning that:
State budget officials will release a two-year economic projection today that is expected to show Minnesota facing a deficit of anywhere from $4.5 billion to as much as $6 billion.