Louisville Mayor Jerry Abramson is expected to announce revisions to the city budget this morning.
With the national economy shrinking and unemployment rising, revenue for Louisville Metro has been lower than projected this fiscal year. The mayor will meet with Metro Council leaders today to determine how to address the shortfall.
A previous shortfall this year was partially offset by travel and hiring freezes, but mayor’s spokesperson Chris Poynter says the current fiscal situation is worse.
“You just have to look at the economy,” he says. “Look at what’s happening with the Dow Jones. Look at what’s happening with jobs here in this community. The unemployment rate is now expected to inch near 8% according to the analysts. Eight percent unemployment in Louisville – that’s a big number.”
Poynter says all budget items are on the table for possible cuts.