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Phoenix looking at a budget surplus

Phoenix may be sitting on a pile of money when the new budget year begins in July. It’s the first time in years the city may have a surplus of cash that city officials are projecting could be from $10 million to $15 million in the general-fund budget for the 2012-2013 fiscal year.

The Arizona Republic reports increased state-shared and local tax revenues from an improving economy along with savings from tightened city operations have contributed to what officials describe as a “major turnaround.”

Phoenix officials are proposing new services or restoring those that disappeared as the city wrestled with four consecutive years of budget deficits.

It could add more paramedics, longer library hours and extra classes at senior centers.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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