Mayor Ballard signs 2014 budget for Indianapolis

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Mayor Greg Ballard has signed into law the 2014 Budget for the City of Indianapolis/Marion County.

The budget passed the City-County Council on Monday, October 14, 2013 on a vote of 26-2.

"I am pleased this budget provides the City with the necessary funding to fulfill my promise of hiring 80 new IMPD recruits and offer a contract extension with raises to police officers and firefighters next year. This budget is far from perfect and will require continued diligence on our part to control spending, but it does allow us to continue investing in making Indy a great place to live, work and raise a family," said the mayor.

Pay raises for firefighters and police officers were a big point of contention as the council and mayor's office tried to hammer out an agreement last month.

In August, the mayor's office cited $55 million in "structural deficits" heading into 2014. Even with cuts, spokesman Marc Lotter said the city was still $25 million short going into 2015.

Lotter said the deal provides for a balanced budget, the hiring of 80 new police officers and police pay raises, although less than was contractually obligated.

Lotter said the funding involves a $6.9 million loan from the city's fiscal stability fund, $2.4 million from the city's rainy day fund and  $5.7 million left over in the escrow account from the Citizens Water deal.