North Las Vegas could face a budget shortfall of more than $15 million next year unless employee unions again agree to substantial concessions, according to published reports.
Acting finance director Al Noyola told the City Council at its Nov. 16 meeting that the city will face budget troubles again next year unless public unions agree to the same concessions achieved to balance this year's $125 million budget, reports said.
The concession included cuts, layoffs, and union contract concessions that expire next year.
Concerns were raised about a potential state takeover of the municipality during this summer's efforts to balance the current budget.
A sharp decline in property tax and other revenues during the economic downturn forced officials to trim more than $60 million from the general fund and lay off hundreds of employees in the city, which has a population of about 216,000.
After a series of downgrades, North Las Vegas' limited-tax general obligation bonds are rated A-plus by Standard & Poor's, A by Fitch Ratings and A2 by Moody's Investors Service.
