Despite optimism by some officials that the national economy is beginning to show signs of improvement, Louisville Mayor Jerry Abramson says Metro Government’s fiscal health remains weak.
“Our first quarter is not looking as good. We put in a budget that had fewer revenues than the year before, less money than the year before, and it looks like its going to be even more difficult. So, in terms of operating expenses, we’re going to have to be looking at cuts in the budget over the next several months to be able to
insure that we balance the budget by the end of the fiscal year,” Abramson said Tuesday.
Abramson says much of the city’s revenue comes from occupational taxes and taxes on corporate profits, which have not improved. Local unemployment is near 11-percent.