The City of Asheville’s CFO, Ben Durant, presented a financial forecast at city council’s retreat. Last year, the city added 31 positions. They also added several programs. Meanwhile, the city’s tax base has only grown 2.3% this year. This is the slowest growth rate in ten years. Sales tax revenues have typically grown 8% over the past five years. They are now down to 1%. With no changes in policy, staff anticipates council would experience a deficit of $1.3 million for FY ’08-’09.
by Leslee Kulba
Wild West blogger