Branson leaders address budget woes

By Tonyi Crandell BDN Staff Writer tcrandell@bransondailynews.com Branson budget and finance committee officials, determined to dig themselves out of a financial pit, met Tuesday to determine just how to recover approximately $10 million. "Last year, we budgeted based on on our belief," Mayor Raeanne Presley said Tuesday. "And our belief was incorrect." City officials said that there is going to be a shortfall of $5.5 million in revenue due to the expenses of the convention center. In addition, current sales-tax shortages account for at least $900,000 of the budget reduction, while other revenue deficits account for the remainder. "Let's not candy coat it," said Alderman Stephen Marshall. "Who was asleep at the wheel?" In defense, Alderman Sandra Williams suggested that "no one was asleep at the wheel," and that once financial officials realized that there was going to be a financial problem, they "stopped the spending." Financial consultant Janice Petty suggested that overspending wasn't the real problem. "No one was overspending. The caution lights came on that the revenue was not going to be there, so they spent what they were supposed to," said Petty. Officials agreed that past inexperience of calculating financial data was to blame and that the remedy is in revamping the finance department and taking a closer look at current contracts. "We need to take a real hard look at the contracts we have so that we can effectively manage them," said Petty. Financial officials expressed that being overly optimistic regarding the budget was a mistake, and whether it be cutting operating expenses by $3 million, raising new revenue of $3 million or even dipping into the $6.3 million Rainy Day fund, financial officers said they are prepared to face the music and take action. -- http://www.bransonedge.com http://www.bransonmissouri.blogspot.com