I appreciated that CJOY asked me for an interview on the matter of my previous post – Back on track to a balanced budget at year end.
It is important information for the community.
I was asked to explain more what cost containment means and why we could not achieve this when we set the budget in the first place.
It is similar to when you have made plans for your family and then all of sudden you have to replace your furnace or your kid needs braces. You need to reset your priorities to manage your personal finances.
That is the process that occurs internally at City Hall to ensure that we contain costs to balance the budget.
While some might take out a loan to pay for the furnace, the City cannot use debt to cover its operating expenses.