The City of Lansing is facing a potential $15 million budget deficit. City Finance Director Jerry Ambrose says there is a growing chasm between Lansing’s projected spending needs fiscal year 2012 and the city’s projected revenue. FY2012 begins June 30th, 2011. Ambrose says the city expects to spend $118 million next year delivering city services, but city revenues are only expected to reach $103 million. Ambrose says in a written statement:
“The impact of the historic economic meltdown in Michigan continues to have negative impacts on municipal budgets across the state. Although we are in better financial condition than most cities, our budget will continue to reflect the impact of the recession for the next several years."
Ambrose expects to finish the current fiscal year on budget.
