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Last updated on Friday, April 20, 2012
(BICKNELL) - The City of Bicknell has hired a consulting firm to help them out of their current financial difficulties.
The city council last night agreed to hire HJ Umbaugh and Associates to assist them in climbing out of a 320-thousand dollar budget deficit.
Bicknell City Council President Butch Byrer said he had no idea of the city's fiscal dilemma.
As a member of the Board of Works, Byrer was told there was money in the bank to pay the claims that were coming in.
The revenue shortfall is a combination of a number of things including not taking into account the impact tax circuit breakers implemented by the Indiana General Assembly had that have limited the amount of money the city could raise through the local property tax levy.
If there was a shortfall, Bicknell officials dipped into their cash reserves to cover the deficit.
Now there are no reserves left.
No decision have been reached in regards to lay-offs or reducing funding in city departments.
It's Byrer's hope that no employees will have to be laid off, but they may be forced to cut their hours.
The city council has scheduled another meeting for May 1st at which time Umbaugh and Associates is expected to make recommendations on how they can get through this fiscal crisis.
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