SAN FRANCISCO - The San Diego City Council cut $37.3 million from the $1.19 billion general fund budget Monday, but lawmakers refused to slash popular city services like libraries and recreation centers.

Mayor Jerry Sanders earlier this month proposed $43 million of budget cuts to keep the city's fiscal 2009 budget in balance amid weaker-than-expected tax collections. The city expects a 4% shortfall in expected revenues this year on weakness in sales taxes, property transfer fees and property taxes.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.