The Riverside County Board of Supervisors on Tuesday approved a balanced budget — one based on the use of reserves as well as employee concession.

The final recommendations avoid widespread layoffs, but only if unions accept the across-the-board pay cut of approximately 10 percent, according to a county press release.

“A shared sense of urgency is necessary,” county executive officer Bill Luna said in the release. “We must all come together with the common goals of public service, financial solvency and shared sacrifice.”

Adjustments are expected to be put before the board on July 21.

Riverside County has lost approximately $130 million between the recession and foreclosures. The $50.6 million structural deficit will be covered with reserve funds.

There is still a possibility that California will help itself to $45 million of Riverside County’s property-tax revenues. The county could also lose more than $50 million in gas taxes, which go toward roads.

– posted at 6:38 p.m. by Cathy Maestri

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Tuesday, June 30, 2009

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