Posted: Jul 26, 2012 8:40 AM by Associated Press
SAN BERNARDINO, Calif. (AP) - City leaders have been told spending must be cut by a third to keep San Bernardino solvent as the Southern California city heads for bankruptcy court.
Widespread layoffs or pay cuts are expected.
The Los Angeles Times says Interim City Manager Andrea Travis-Miller told the City Council on Tuesday night that $46 million must be cut from the $166 million budget to remain solvent through the current fiscal year ending June 30, 2013.
The cuts will be required as part of the municipal bankruptcy process.
The city declared a fiscal emergency on July 18 and began preparations to file for Chapter 9 bankruptcy protection.
San Bernardino became the third California city to declare insolvency this year, joining Stockton and Mammoth Lakes.
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