The City of Lakewood is looking to trim about $1 million from its budget as revenues have come in lower than expected.
City Manager Andrew Neiditz was scheduled to share details on how he intends to close the projected shortfall at Monday night’s City Council meeting. His presentation comes more than two months after the council adjusted the budget by a mere $14,000 midway through the two-year financial cycle.
Neiditz recently told the council the projected 2012 shortfall represents 3 percent of the city’s $38 million general fund. He broached cutting the cost-of-living adjustment for senior managers and reducing it for junior managers, according to minutes from the Jan. 17 council meeting. He said the city has discussed the anticipated shortfall with labor unions.
His presentation Monday was scheduled to occur after The News Tribune’s print deadline. Look for more details today at www.thenewstribune.com.
Christian Hill, christian.hill@thenewstribune.com
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