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City officials have revised their projected budget deficit from $10.7 million to $11.2 million for the 1993-94 fiscal year. Scott Morgan, assistant to the city manager, said the anticipated
increase is a result of a larger than expected contribution to the state-run Public Employee Retirement System. “Our contribution increased by $500,000 to $6.5 million,” Morgan said. “But
our basic retirement benefits remain the same.” City contributions to the system fund the future retirements of municipal employees. The City Council has already taken a number of steps
toward closing the projected budget gap, including voting in April to lay off 50 employees to save $2.1 million and increasing the city’s transient occupancy tax to raise $400,000. MORE TO
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