Carroll County Times editorial: Look ahead for future shortfalls

Carroll County Times editorial: Look ahead for future shortfalls

Editorial for Monday, August 4, 2008

Look ahead for future shortfalls

Local governments are only a month into the new fiscal year, but they already need to be planning on additional shortfalls in next year's budget.

[…]

At the state level, budget analysts last month said revenues in the state were considerably off. Income tax revenue was almost $50 million short of projections, and sales tax revenue was down more than $25 million. Add to that shortfalls that states are experiencing in other areas, such as less gas tax money because people are changing their habits and driving less, and states across the nation are scrambling to figure out how to deal with shortfalls.

[…]

Now is not the time to get involved in costly long-term projects unless there is a clear need or an immediate return in the area of future savings. In addition, existing programs and where the money is going need to be closely examined to ensure that every single tax dollar collected is providing a definite return for citizens.

Many governments struggled this year trying to hold the line on their budgets. Some areas increased taxes or other fees to fill voids or make up for shortfalls. But with more and more families struggling to make ends meet, returning to taxpayers for additional money is going to be a hard sell.

[…]

Read the entire editorial here: Look ahead for future shortfalls

Westminster Dept Finance Budget 2009 – 2010 FY, Westminster Elections 20090511 Mayoral, Westminster Elections 20090511 Mayoral Financial Issues

20080804 Carroll County Times editorial: Look ahead for future shortfalls