Miami - Failed BLUE city

[redrumloa]

Reserves threatened as Miami’s revenue falls short

http://www.miamiherald.com/2011/03/02/v ... iamis.html

So commissioners created a red-light-camera system that was expected to bring in $8 million. They passeda tax on video gaming machines that would bring in $500,000. They hiked safety-inspection fees for vehicles. They even added monthly fees to use city pools and raised docking rates for boats.

In all, those measures would bring in an additional $18 million for the year, commissioners were told before they voted. .

But those expectations turned out to be way off the mark.

According to the numbers from the first quarter of the budget year, the city now expects only about $10 million from the new revenue streams. That means commissioners — who already chose to use $23 million from the city’s reserve account to balance this year’s books — may have to dig in for another $8 million, leaving a once robust account down to about $4 million.