Minneapolis' city general fund faces a revenue gap of at least $28 million next year, the latest forecast shows.
Why it matters: The projection already assumes a 5.4% property tax levy increase.
That means cuts — or a bigger tax hike.
Reality check: Gaps like these aren't unusual in early budget forecasts as normal inflationary pressures push up costs.
Yes, but: "This is a large gap. I won't sugarcoat that," deputy chief financial officer Jayne Discenza told the council yesterday.
What we're watching: The city's trying to scrape together funds to prevent George Floyd Square property owners from paying a $636,000 special assessment for street repairs.
It's the sort of patch-up that gets harder to pull off when the budget is tight.
