Mac has made the Financial Advisory Committee’s recommendations available at his site. Spoiler alert! This post contains the money quote (heh), from FAC member Tom Teresinski.

Tom Teresinski
Overview – A Perspective

I. Spending – Per City Report: (000)

General Fund – Spending (1998): $14,535.8;
(2009) $28,167.0
% Growth: 93.8
Avg % Increase 0ver 11 yrs: 8.5%
Avg % CPI – estimated: 3.0%
Avg Rate of Increase Above CPI: 5.5%

II. Comments:

Given that the City has historically spent more than 2 times the rate of inflation over the last 11 yrs indicates that we have a spending problem. Since these costs are 85% personnel this will be a major component of the review required.

Even if this has made you speechless, surely you’ll be recovered by next week. See you in Council Chambers Monday at 7 p.m. for the public hearing on the FY2009 budget.