Memphis faces tight budgets. Will a ‘debt cliff’ save it?
Memphis Mayor Paul Young speaks at the University Club on Jan. 23. (Patrick Lantrip/The Daily Memphian file)
During the at-times fractious debate about a 2% pay raise for firefighters, Memphis City Councilman Jeff Warren asked Memphis Mayor Paul Young about something called the “debt cliff.”
Young started to answer, saying it begins for the city in fiscal year 2027, which starts July 1, 2026.
“We’re going to have some extra money next year that we will be able to put back into our fund balance,” Warren said at the Tuesday, Dec. 2, council meeting. “We’ll have some extra money that we’ll be able to look at other places.”
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Samuel Hardiman
Samuel Hardiman is an enterprise reporter who focuses on government and politics. He began his career at the Tulsa World where he covered business and K-12 education. Hardiman came to Memphis in 2018 to join the Memphis Business Journal, covering government and economic development. He then served as the Commercial Appeal’s city hall reporter and later joined The Daily Memphian in 2023. His current work focuses on the intersection of government, public policy, influence and how public dollars are spent.
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