Preliminary projections show that the City of Falls Church will face a whopping $7.6 million shortfall in the coming FY11 budget, City Manager Wyatt Shields told the City Council at its work session tonight. That shortfall is given a continuation of the wage freeze currently in effect for both City and school employees and the cuts to the budget initiated this fall.
A huge double-digit cut in commercial real estate assessments and an added burden of $775,000 to pension fund obligations are key components of the drop of revenues currently expected to barely hit $60 million.
