LAS VEGAS -- City leaders in North Las Vegas decided Wednesday to take $2 million out of its rainy day fund to help plug an $18 million budget hole.
Mayor John Lee said he will look at every possible scenario to solve the city's financial troubles and avoid the state having to take over the city's finances. The move brought the city some extra time.
"A lot of times, it's at the last minute when things finally work themselves out, but that is quite a long time for us to have a lot of success," Lee said.
Lee said he's taken a page out of the private sector when it comes to solving some of the money troubles. He reached out to the city's 50 top companies asking to give the city a break on its bills until the financial crisis is settled.
"I'd like to ask a question, cause I know it's on everybody's lips, do we have a balanced budget?, one North Las Vegas resident asked at the public meeting Wednesday night.
City leaders still have two serious financial issues to solve before April 15. There is an $18 million dollar general budget deficit and the city must find a way to settle a $25 million legal battle with the city's police and fire department unions for back pay as well as other benefits that were suspended. The $2 million will be used toward settling the dispute with the unions.
City leaders are meeting with union representatives weekly to come up with an agreement. If the city cannot come up with a balanced budget by the April 15 deadline, a 'severe financial emergency' will be declared and the city could face state receivership. A state emergency has never happened to a city the size of North Las Vegas in Nevada history.
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