City Faces $3 Million Budget Gap Going into June's Budget Season

Somerville's mayor said better revenue projections and "efficiencies" will help close the gap, and he credited the city's switch to the GIC health care plan as a reason the gap isn't bigger.

Somerville will have to close an approximately $3 million budget gap when it shapes the fiscal year 2013 budget this June, according to a city presentation.

Somerville Mayor Joseph Curtatone, speaking at the Ward 5 ResiStat meeting Monday night, said, "That's where we are right now," in terms of planning the upcoming budget.

Fiscal year 2013 begins on July 1, and the Somerville Board of Aldermen and mayor's office will spend much of June working on a final budget.

The budget gap is the difference between revenue the city takes in and expenditures. At the moment, on the verge of June's budget season, revenue and expenditure estimates are still evolving.

Relatively speaking, a $3 million budget gap in May isn't huge. .

As for this year's budget gap, "We'll figure that out with better revenue projections," the mayor said, adding the city would also seek to close the gap with "efficiencies."

Curtatone said the city has saved money this year by switching its health care to the state's  (GIC) health care plan, in which municipal employees are put into the same health care system as state workers. The city approved the switch in August of 2011. The mayor said the switch is saving the city $8.6 million in fiscal year 2013.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »