Newark Has Strategy to Fill Deficit Without Firings, Baraka Says
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Newark Mayor Ras Baraka said he’s found a way to close a $93 million budget hole through a mix of cuts and lowered debt payments, enabling him to avoid firing city workers.
Baraka, who took office three months ago, will restructure debt on Housing Authority bonds to save $5 million and will find $16 million by cutting expenses such as stationery, travel and software, he said in a statement. The city will also receive $10 million in aid from the state, which must approve the plan, Sakina Cole, a mayoral spokeswoman, said today.