Budget Adjustments for 2004-2005
$5,416,000 budget cuts for balance of 2004 (7.68% reduction).
$8,102,000 budget cuts for 2005 (11.49% reduction).
180 positions to be eliminated.
Police and Fire overtime to be paid with Casino Funds - $4 and $5 million in 2004 and 2005, respectfully.
Other Financial Steps
Encourage all taxing units to reduce their budgets by 7.5% and 11.5% in 2004 and 2005, respectfully - the same percentage cuts as the City of Gary.
Continue discussions with State Officials to allow the $53 Million USX Settlement to offset 2004 property tax levies instead of 2006.
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