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VENTURA COUNTY FACING $22 MILLION DEFICIT.


Byline: Sabrina Decker Staff Writer

VENTURA - Ventura County is facing a $22 million deficit next year, with the current economic slump Slump

A temporary fall in performance, often describing consistently falling security prices for several weeks or months.
 leaving it short of money to pay for projected spending and salary hikes, officials said Tuesday.

And the financial forecast that came out during the Board of Supervisors' meeting doesn't even include cuts in state funding for local governments announced last week by Gov. Gray Davis.

``I'm not here to predict a train wreck train wreck Medtalk A popular term for a multiproblem Pt in critical condition ,'' Chief Executive Officer John Johnson John Johnson may refer to:

Artists and entertainers
  • John Johnson (composer) (c. 1550-1594), English lutenist & composer
  • John Johnson (reporter), American television reporter and anchor
  • J.
 told the board. ``What we're here to do is avoid a train wreck by watching where we're going.''

Johnston said officials anticipate carrying $2.8 million over from this year's budget to reduce the deficit to about $19 million. And over the next few months, each department will be asked to review its expenses with an eye toward making cuts - a process they underwent last year when the county was facing another deficit.

Johnston also said the county could impose a hiring freeze Noun 1. hiring freeze - a freeze on hiring
freeze - fixing (of prices or wages etc) at a particular level; "a freeze on hiring"
, but he insisted that jobs would be eliminated only as a last resort.

Supervisors expressed concern about the county's finances, especially since the state expects to make deep funding cuts as it faces its only multibillion-dollar shortfall Shortfall

The amount by which the capital required to fulfill a financial obligation exceeds available capital.

Notes:
Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual.
.

``It makes me shake in my seat to see a projection of $19 million and not know what the state is going to do to us,'' Supervisor Frank Schillo said.

County officials also will be scrambling See scramble.  to find the money to pay for raises for members of the Service Employees International Union, which signed a new four-year contract in October. The county also is close to reaching a new contract with the Deputy Sheriff's Association that includes salary hikes.
COPYRIGHT 2001 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Daily News (Los Angeles, CA)
Date:Nov 21, 2001
Words:279
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