Word: fiscal
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...February, Governor Deval L. Patrick ’78 decreased state aid to Cambridge by $2.6 million for the current fiscal year, which ends in June. The loss of funds is small compared to the city’s overall budget of $434 million. But, combined with the fact that “all other revenue sources are ‘flat’ during this economic downturn,” it was expected to necessitate “serious expenditure reductions,” wrote City Manager Robert W. Healy in a memo to the City Council...
...While city officials report that they are managing the current budget shortfall, several say that further decreases in state aid and slowdowns from other revenue sources may cause fiscal woes—or perhaps higher taxes—in Cambridge’s future...
...order to make up for the loss in state funds this year, the vacancy committee—which determines which city jobs to fill and when—has allowed some seats to stay vacant longer that usual, said Assistant City Manager for Fiscal Affairs Louis A. Depasquale...
...Along with the cuts for the current fiscal year, the state department of revenue announced in February that aid to communities would be cut for the 2010 fiscal year...
...school department’s central administration has agreed to forego cost-of living increases for the coming fiscal year, contributing to a $1.6 million reduction in its budget, and the high school has agreed to cut $500,000 from its budget, Tauber said. [SEE CORRECTION BELOW...