Categories
Local News

City Faces $6 Million Deficit, Humana CEO to Retire, Palin Endorses P’Pool: Afternoon Review

In case you started the weekend early, here are some of the stories we’ve covered today that you may have missed.

Louisville Metro Government is facing a $6 million deficit based on early revenue projections. The shortfall exists despite higher receipts in the first three months of the fiscal year.

Humana president Mike McCallister has announced his retirement after 38 years with the company. He will step down within the next 18 months.

And former Alaska Governor and vice-presidential nominee Sarah Palin has endorsed Republican Todd P’Pool for Kentucky attorney general. The P’Pool campaign has released robocalls in which Palin urges voters to support P’Pool and mispronounces his last name.

Categories
Local News

Louisville Faces $20 Million Budget Shortfall, Cuts Ahead

Louisville faces a projected 20-million dollar shortfall through the end of the fiscal year. Mayor Jerry Abramson has issued a travel and hiring freeze… and that’s just the beginning.

When the current budget was crafted in May, it contained a projected two-point-nine percent revenue increase… over the first quarter of the fiscal year, revenues have actually fallen one-percent. Abramson says that means a 20-million dollar shortfall if the trend continues… and possibly more if the national economic picture worsens.

“The day of cutting around the fringes is over, and we’re going to have to go into some programs, we’re going to have to go into some services, and I’m afraid this is the one folks will ultimately feel,” says Abramson.

The hiring freeze gets nowhere close to freeing up 20-million dollars. Abramson will decide over the next few weeks where layoffs and unpaid furloughs may be needed, in addition to possible cuts in city services.