Summary
Allegheny County faces a "financial crisis" with an annual deficit that could rise to $50 million by 2012, county Controller Mark Patrick Flaherty warned Wednesday.
Without one-time revenue sources, such as state capital grants used to plug holes in the operating budget, the county would have spent all of its $19.5 million reserve and still run a $3.6 million deficit last year, according to Flaherty's Comprehensive Annual Financial Report, a yearly accounting of finances.See the full content of this document
Extract
Allegheny County Faces $50m Deficit As State, Federal Money Shrinks
"We are right at the verge of a financial crisis for the county," Flaherty said. Officials will have to make "hard choices" about whe...
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