The Atlanta Journal-Constitution
Atlanta’s City Council passed the city’s $542 million budget for fiscal year 2013 after deliberations that featured none of the fireworks of last year, when contentious debates over pension reform dominated the headlines.
Atlanta’s long-term projections indicate revenue in 2013 will be the lowest in a decade before slowly recovering.
“Our sense is that the property tax digest is bottoming out,” Atlanta Mayor Kasim Reed said in an interview Monday. “We just want to stop dropping $15-20 million a year.”
The budget does not call for tax increases or layoffs in the 2013 fiscal year, which begins July 1. Among the notable items:
- The city expects to have reserves of more than $110 million by the end of the fiscal year on June 30, up from $7.4 million when Reed took