Page 42 - Utility Rate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Estate bust enunemployment, it was hit by cold winter and the city runs the area's power, gas and water systems. >> people came in and said, we can't pay utility rates. council decided to lower utility rate to electricity, it's called a power cost adjustment. when they lowered that that reduced anticipated revenue by $250,000 for the remainder of this fiscal year. >> reporter: the city put land up for sale, borrowed money, furloughed employees and cut programs. even that wasn't enough to save what makes up the biggest part of their budget, the police department. >> i think the council had no o...

Through this economic downfall to keep a police department? >> unfortunately, we have no reserve. >> reporter: mayor glenn newsom calls it the perfect economic storm. just as the city was dealing with nationwide problems like declining tax dollars, the real estate bust, and unemployment, it was hit by an unusually cold winter, and the city runs the area's power, gas, and water systems. >> people came in and said we can't pay the utility rates. so the council decided to lower the utility rate for electricity. it's called a power cost adjustment. when they lowered that, that reduced anticipated ...

As the city was dealing with problems like tax dollars and the real estate bust and unemployment, it was hit by a cold winder and the city runs the power, gas, and water systems. >> people came in and said the council decided to lower the utility rate for electricity. it's called a power cost adjustment. when they lowered that, that reduced anticipated revenue by $250,000 for the remainder of this year. we already had a shortfall. >> they're put land up for sale and furloughed employees and cut programs. that makes up the biggest part of the budget, the police department. >> the council had no...