Tuesday, April 21, 2015

Wharton Proposes $656 Million Budget

Pensions, paving, public safety, fighting blight, and holding the current tax rate are the priorities of Memphis Mayor A C Wharton’s $656 million budget he delivered to the Memphis City Council Tuesday.

“I am pleased to report that the city of Memphis successfully emerged, bruised but not broken, from a perfect financial storm brought on by the recession, unfunded liabilities (in the pension and retiree health care funds) and high unemployment,” Wharton said Tuesday. “My proposed (fiscal year) 2016 budget should be viewed in this context.

“We had a financial crisis on our hands.…

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from News Blog, Memphis Flyer http://www.memphisflyer.com/NewsBlog/archives/2015/04/21/wharton-drops-656-million-budget

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