City Finance Director Delivers Glimmer Of Hope On Budget
PHILADELPHIA (CBS) - Mayor Nutter's Finance Director delivered a glimmer of optimism to city council about the city's cash-starved budget along with a large dose of caution.
Finance Director Rob Dubow testified to council members that the city budget is no longer suffering what he called "the downward spiral," of the past two years. This prompted at least one Council member to refer to it as good news.
"I wouldn't actually call this good news. I would say it's the first time in a while we haven't had bad news, which is a significant difference. And I don't think we're in a place where we're going to start adding expenditures."
Dubow said huge uncertainties loom including the cost of new city worker contracts and projected shortfalls in the state budget. He also mentioned the possibility that the national economy will again weaken.
Reported by: Mike Dunn, KYW Newsradio
