LINCOLN – Citing increased expenses and a drop in residential and commercial building, city officials say they will dip into reserves to cover a projected shortfall next year.
Finance and Administrative Services Director Steve Ambrose projected the city's $16.5 million general fund will be short about $1 million.
To help make up the difference, the city has saved about $500,000 by leaving police, fire and library positions vacant.
The City Council also agreed to draw $500,000 from the general fund's $3 million reserve.
"… I don't think it's fiscally irresponsible to use it, given that we still are going to have a reserve of $2.5 million," Mayor Primo Santini said.
The city plans to sell property at First Street and Joiner Parkway for about $1.2 million, which would augment the general fund reserves, he said.
– Jennifer K. Morita
