Word: budgeting
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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...
...These numbers will be finalized when the state Senate and House of Representatives approve the budget this spring...
...Cambridge schools are unaffected by the loss of funding this year because the city has a policy of insulating the schools from mid-year budget changes, said Nancy Tauber, co-chair of the school committee’s budget subcommittee...
...current draft of the school budget calls for an increase of 2.5 percent over the 2009 budget, which nevertheless represents significant cutbacks in school expenditures, due to increases in energy and personnel costs, Tauber said...