Understanding Clifton's Big Budget Issues
City Manager Nick Villano and Chief Financial Officer Joseph Kunz explained the issues facing the city of Clifton, which is now late with submitting a budget to the State. Municipal budgets are complicated with many moving parts and they are challenging for most laypeople to understand. Villano said that the budget is a living thing; it changes constantly as money comes in and bills are paid. It is the responsibility of the finance team to ensure that the budget is healthy and that anticipated revenue has already been demonstrated by the previous year's revenue.
Read through these slides for a simplified explanation of what's happening with the budget, and why. The City Council will meet again on Tuesday, May 16th at 6:30 pm for their work session and then the regular meeting, where the public can offer comments, at 8:00.