Indianapolis faces $55M budget shortfall for 2014

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The City of Indianapolis faces a $55 million budget shortfall for next year.

Mayor Greg Ballard will present his budget to the City-County Council on Monday, and he will include ways to close the gap.

Under the mayor's plan, the Indianapolis Metro Police Department gets the same amount of money it got last year. The mayor's budget does not include the three-percent pay raise police are due next year. Public Safety Director Troy Riggs old Eyewitness News earlier this week, he's working to find that $3 million in his budget.

The mayor's plan also imposes a fuel surcharge on take home police and fire vehicles that would raise $1.4 million. Ballard also wants to expand the police taxing district beyond the old city limits to townships. If that happens, it means an additional $3 million.

The mayor will make another run at eliminating the local homestead tax credit. Doing that would bring in $11.5 million.

He also wants to cut agency budgets by nearly $6 million, with the sheriff's department taking the biggest hit with a $5.4 million reduction.