Here comes FY12!

As part of Tuesday night's City Council agenda, City Manager O'Brien is presenting an FY12 budget forecast.

Of note:

• The city is projecting a deficit of $13.7 million dollars heading in. This assumes a 5% local aid cut. Note that there are forecasts that this could be a 10% local aid cut.
• This further assumes new growth of $2.2 million and $5.6 million under Proposition 2 1/2.
• City contribution to WPS under these projections increases $1.76 million, bringing the city contribution to $265.8 million of required minimum contribution under the foundation funding formula.

This chart gives the overview (click to make it bigger):