Franklin: Atlanta budget's in the black
Atlanta Mayor Shirley Franklin said Thursday the city budget for most services is approximately $5 million in the black, thanks largely to holding the line on spending.
Expenses are down $9.8 million below projections between July and September, said Chief Financial Officer Jim Glass. Revenues, however, are about $5 million less than officials predicted. The city's budget fund for most services, including police and fire, is about $541 million.
The mayor put much of the blame on the economy, noting the high unemployment rate in the city (about 11.5 percent), the rise in foreclosures and that the city is collecting less money from sales tax revenue.
Franklin also noted the rise in vacant commercial office space, which leads to declining property values and property tax money that comes to the city.
"It's a huge problem," the mayor said.
Franklin said the city is still in discussions with Fulton County about selling its jail, which her staff has said could save Atlanta about $10 million a year.
The mayor also said Atlanta has had preliminary talks with U.S. Treasury Department officials about borrowing money, possibly for infrastructure projects. Atlanta spends about $60 million a year on infrastructure projects like improving roads, sidewalks and bridges. However, Franklin's staff said the city should be spending about $100 million.
Franklin has given monthly updates on the budget, in part to blunt criticism that her staff has not provided enough information about city finances. Mayoral candidate Mary Norwood has complained she has not received adequate financial information from the city.
Franklin has said she won't endorse Norwood, a two-term city councilwoman. In blog entries on The Atlanta Journal-Constitution's Political Insider site, Franklin said Norwood hasn't demonstrated "vision, competence or integrity in her public life" in her nearly eight years on the council. Norwood has said in response that she will let voters decide her qualifications.
The mayor refused Thursday to talk about Norwood or which candidate she supports in Tuesday's mayoral election.
"The public will vote for whom they think is the best candidate," Franklin said.
About the Author
Eric Stirgus joined The Atlanta Journal-Constitution in 2001. He currently writes about higher education and has assisted in the newsroom’s COVID-19 vaccine coverage. Born and raised in Brooklyn, N.Y., Eric is active in the Atlanta Association of Black Journalists and the Education Writers Association and enjoys mentoring aspiring journalists.
