Cincinnati budget

Cincinnati budget
7:51 am
Wed December 18, 2013

Cincinnati projected deficit for FY2015 is $16 million

City of Cincinnati

Cincinnati officials are showing a nearly $16 million General Fund deficit for the next budget year starting July 1st.

The information is contained in a tentative tax budget city council's Budget and Finance Committee will consider during a public hearing on January 6th.  The document must be provided to the Hamilton County Auditor by January 20th.  That office will use it to set the property tax millage rate for 2015 based on estimated property valuation.

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Cincinnati budget
12:01 pm
Tue July 30, 2013

Cincy Council majority ready to restore some budget cuts

Six Cincinnati Council Members announcing plans to make about $4 million in budget restorations during a City Hall press conference.
Jay Hanselman

Six Cincinnati Council Members are ready to restore about $4 million to the recently approved city budget after better than anticipated revenue collections for May and June.  

The funds will be used for things like recreation, parks, human services and the health department.  Council Member Laure Quinlivan said there's added money for parks too, which was a popular topic during public hearings in May.

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Cincinnati budget
1:47 pm
Tue July 16, 2013

Cincinnati's bond rating downgraded

Cincinnati City Hall
Jay Hanselman

Moody's Investors Service is downgrading Cincinnati's bond rating because of a new method for analyzing pension obligations.  

The city's general obligations bonds are now rated Aa2 instead of the previous Aa1.  Moody's also revised the city's outlook to negative.  

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Cincinnati budget
4:14 pm
Thu May 30, 2013

Cincinnati Council approves budget by 5-4 vote

Provided

Cincinnati Council officially balanced the budget Thursday for the next fiscal year that begins in a just a few weeks.  But once again the plan relies heavily on one-time sources and juggling other funds to close a $35 million deficit.  

There are no police and fire layoffs, but some 60 other city employees will be out of work.  

Residents can also expect some city services to be affected... plus two recreation centers will close and five city swimming pools will be shut down after this summer.  

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Cincinnati budget
1:22 pm
Wed May 29, 2013

Final Cincinnati budget vote Thursday

Cincinnati City Hall
Jay Hanselman

Right now eight of the nine Cincinnati Council Members are supporting a budget plan that prevents any layoffs in the police and fire departments.  The Budget and Finance Committee approved the budget motion Wednesday.  But those numbers may change some when final votes are taken Thursday.  

But about 60 other city workers will get pink slips in a few weeks and some services will be scaled back in order to close a $35 million general fund deficit.  

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