Mayor Fischer presents austere budget for LouisvilleKY
LouisvilleKY., – Mayor Greg Fischer proposed last week an austere 2019-2020 city budget that manages the impact of a $35 million budget deficit, driven largely by a 12 percent increase in the city’s state pension costs, while working to minimize the impact on Louisville’s most vulnerable. The $623 million general fund budget anticipates a revenue growth rate of 2.9 percent, which is dwarfed by the size of the increased pension cost – $20 million higher than in 2018. The Mayor had previously warned that despite a growing economy, the pension challenge would, without new revenue, result in $35 million in…
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