Louisville Metro Government is facing an additional $13.4 million budget hit next fiscal year.
The Kentucky Retirement System’s board of directors has raised pension rates for county employees, which will add the $13.4 million to Louisville Metro’s budget for 2009-2010.
Mayor Jerry Abramson says he hopes he will be able to cut the necessary funds from the budget, rather than pursuing revenue increases.
“At this point we are not proposing any increases, any taxes or fees where we would need the council’s approval, but we’re still looking,” he says. “I’ve still got another six, seven, eight departments to work with.”
The city is currently facing a $20 million shortfall.