Kent County commissioners say 2009, 2010 budget deficits will be larger than expected
"Kent County leaders say the economic storm has left them a larger-than-expected budget deficit for this year and next.
A projected $2 million gap for 2009 has been revised to more than $5 million, forcing officials to dig deeper into the county savings or make budget cuts. The fundamental problem is that county expenses are expected to dramatically outpace revenues beginning this year.
Forecasts now call for about $1 million less in property tax revenues because of the housing slump and less interest income on county investments...
So, a $1 million shortfall in property tax revenue results in a $5 million budget deficit and it's the fault of "the economic storm"?
No mention of out of control spending, waaay over market pay and compensation to county employees.
Simply "not our fault!"
gimme a break....
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