KSFR Local
(2009-11-03)
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-- Nov. 3, 7 a.m. -- Santa Fe school officials are working on an even bigger budget problem for next year, even while they try to cope with this year's budget situation. A sparse crowd last night heard school superintendent Bobbie Gutierrez explain how her administration narrowly avoided having an evern bigger budget shortfall because legislators allowed insurance premiums to be paid out from another fund of money. Those funds won't be there next year. In the end, this year's budget will be two percent, or $1.5 million, smaller than was anticipated a few months ago. Another public hearing is set for November 14th.
Tax increases are inevitable. That's the word from Gov. Richardson as he continues to deal with the state's mounting budget problems. While not speculating on which tax increases might pass muster at the Legislature, the Gov. has opposed tax increases in the past like repealing personal income tax cuts enacted in 2003. Tax bills were left out of last month's special session which only had deficit reduction as a way to deal with plugging a $650 million hole in the state budget. The governor plans to appoint a group of state officials, business leaders and others to study tax proposals that could be considered during the January 2010 session of lawmakers.
Meanwhile, Governor Richardson has until November 12th to sign, veto or partially veto legislation on his desk from the special session. He travels to Albuquerque and Las Cruces tomorrow to canvass public opinion on the budget cuts. While the Legislature made minimal cuts to education, lawmakers targeted state agencies under the control of the Governor for the most drastic cuts. His office says that means critical services will be cut.
$61 million dollars in city bonds to be issued as financing for the Buckman Direct Diversion Project and other water division capital improvements have received top grades for fiscal soundness. Fitch Ratings Services has given the package their highest grade of Triple A, the first such rating for Santa Fe and among only a dozen such appraisals nationwide. Standard and Poor's rating increased two levels, from Double A minus to Double A plus. Rating analysts cited the City's excellent planning for the system and its financial needs, including the recent approval of needed rate increases; the strength and balance of the local economy and the community's commitment to conservation as major factors in the ratings. The bonds will go to market next month and have a cumulative life from June of 2010 through 2039.
Our state's fatality toll from H1N1 flu now stands at 22. This following Monday's announcement of the death of an 11 year old boy from Bernalillo county. The child had been hospitalized at UNM's Albuquerque hospital since October 11th and is said to have had underlying chronic medical conditions that made him more susceptible to complications. The state health department's weekly report on new cases of the flu statewide will be released tomorrow.
Weather for Santa Fe today through Saturday, the story is the same. Sunny skies and highs in the 60s. Overnight lows in the 30s.
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