presented his 2015 budget estimates to
on Friday morning.
Jackson points out that despite economic growth in the area, the city's revenue remains flat because it receives no direct benefit from the development of businesses in greater Cleveland. He notes revenue has not kept up with increased expenses.
According to Jackson, global recession and state budget cuts have led to significant revenue loss for Cleveland. Various factors have contributed to a nearly $15 million revenue loss within the past year, such as the removal of red light cameras, workers' comp refunds, even the casino.
Many areas will increase in cost this year, including police and fire entrance exams, healthcare, and road salt. Additional unbudgeted expenses include outstanding contract negotiations with public safety, Department of Justice compliance and anticipated RNC prep costs.
The municipal budget is supported mostly by income and property taxes.
Jackson says he has no anticipation of any new taxes that could increase the city's revenue collection, so the only option is to control costs, which will help preserve jobs.
The mayor estimates the city's total expenses will cost roughly $541.7 million this year. With around $544.1 million available, that will leave about $2.4 million to spare.