Wall Street's troubles trickle down to city hall - WKOW 27: Madison, WI Breaking News, Weather and Sports

Wall Street's troubles trickle down to city hall


Madison (WKOW) -- The city of Madison and Dane County are already absorbing financial blows from our reeling economy.

But officials say garbage will be picked up, streets will be plowed this winter, and police patrols will not be compromised.

You may not notice the steps officials have taken to account for the declining value of municipal investments - at least not yet.

At the county's register of deeds and the planning department, where home sales, home remodeling, and business development projects are all recorded, officials say the real estate  slump means as much as fifty percent less activity and a drop in the corresponding fees.

"Because of the economy slowing, we're not seeing the kind of demand for zoning permits, so our planning department recommended to me that two positions be cut,"  Dane County Executive Kathleen Falk said.   "They are cut."

Both Falk and Madison Mayor Dave Cieslewicz have modified their expectations for future revenue by at least half a million dollars each, because of decreasing investment returns.

Falk says another sign of tight finances is increased requests for county aid.   Falk says requests for food stamps have increased by 3,000.

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