Budget Committee to review all Capital Budget projects in light of potential shortfall
Thursday February 2, 2012
For Immediate Release:
Louisville Metro Council
Contact: Tony Hyatt 574-4137/526-3622
Stephen Haag 574-1204/645-1752
In light of a potential $12 million dollar shortfall in the current 2011- 2012 Budget and a potential $20 million to $30 million shortfall next fiscal year, the Metro Council’s Budget Committee will hear an ordinance that calls for a review of all capital construction projects not yet underway previously proposed in Metro Government Capital Budget and carried in the City’s Cumulative Capital Reserve Fund.
“The Budget Committee has a fiduciary responsibility to assist in prioritizing capital projects to see if they are in line within the core services of Metro,” says Councilwoman Marianne Butler (D-15), who chairs the Committee.
The proposed ordinance would stay the Council’s approval of all Capital Budget projects dating as far back to 2004.
“We would prefer to delay projects only when necessary,” says Councilman Kelly Downard (R-16) who is the Committee’s Vice Chair.
There are exceptions to the ordinance. Projects funded with Capital Infrastructure Funds, projects in the final construction phase, projects to
non-profit organizations or projects funded in part or in full by federal or state funds are exempt.. The funding will be reconsidered on a case by case basis by an amended budget ordinance as Metro resources permit
“The Mayor has painted a picture of making tough choices. These projected shortfalls show us how important priorities are if we are talking about cutting services,” says Butler. “The time is now to decide what should be built or what we can hold as we deal with this budget shortfall. We share the Mayor’s goal of cooperation as we deal with this situation.”
The Budget Committee will meet on Thursday, February 2nd at 5:00pm in Council Chambers. The meeting will be carried live on METRO TV, Insight Cable Channel 25. The meeting will also be streamed live on the Metro Council’s home page. Go to www.louisvilleky.gov/metrocouncil and click on the “Watch Gavel to Gavel” icon. Sponsors:
Marianne Butler (D) 15
Kelly Downard (R) 16