Top mayorals respond to 5 year plan ATLANTA, GA (WABE) - Over the next 5 years, Atlanta will only have enough money to pay for services at its current level. The next Mayor and City Council will have to find new ways for the city to make money or cut services.

That's the prediction and recommendation from Atlanta's chief financial officer about the city's future.

It's striking a cord with the top mayoral candidates.

WABE's Charles Edwards reports

The 5 year financial plan is detailed but makes 2 key predictions. One is Atlanta's revenue will be flat for the next five years only growing by 1-point-4 percent each year. A safe assumption says city council President Lisa Borders.

BORDERS: "I would rather start with money is going to be exactly the same as opposed to any expectation that we will have significant growth in revenues."

The flat revenues are half the problem. The other half is spending. That's predicted to increase by 2-point-5 percent a year; faster than revenues. A bad picture that at-large city councilor Mary Norwood thinks is actually worse. If she wins the Mayor's race,

NORWOOD: "There will still need to be adjustments made when I institute the independent outside citywide comprehensive audit of the city finances."

Former State Senator Kasim Reed says one way to keep costs in line is to cut what's not needed.

REED: "I think it's vital that we focus on becoming more efficient and getting rid of waste in government in a much more aggressive fashion than we're doing today."

Reed also says Atlanta is missing out on at least 25 million dollars in revenue by failing to fees and fines owed to the city. Norwood and Borders both agree.

But Borders also says Atlanta is just one Georgia city that's not getting its fair share of sales tax revenue. She's supporting state legislation to allow cities, not the state, to collect their own sales taxes.

BORDERS: "If we change from the state collection method to the local collection method, it will benefit the city of Atlanta not only the city of Atlanta but every city in the state, every county in the state and the state as a whole."

The city council finance committee first got the 5 year plan this week. The current city council is planning a work session to further discuss the document.

Charles Edwards, WABE News. © Copyright 2012, WABE