Mayor Daley has a manageable, $645 ...

Mayor Daley has a manageable, $645 million perforation in his 2007 budget that can likely be filled without pre-election layoffs or tax increases, nevertheless there will be no reprieve for red-light racers City Hall said Monday.

The preliminary, $55 billion lot includes the lowest shortfall in five years -- and an ominous warning for lead-footed motorists.

Twenty more cameras are anticipateed to be installed by year's extreme point bringing the citywide total to 50 by means of 2010, City Hall plans to have cameras in place at "10 percent of all signalized intersections," the preliminary assortment states. Chicago has 2,800 similar intersections. That means 280 of them would be capable of producing the photographic evidence.

"Although the sense of the program is to increase traffic safety, the city reckon upons to gain $14 million in additional receipts from the cameras in 2007" more than double the annual take of $123 million, the package states.

The $645 million shortfall is paltry by the agency of Chicago standards. It's $29.6 million les than last year's deficit and $1555 million below the dire warnings of 2004

SMALLEST GAP IN FIVE YEARS

Normally, preliminary packages include giant shortfalls accompanied according to dire warnings of tax increases and layoffs. If the collection cycle coincides with union talks, the drawed deficit is even higher in an apparent attempt to stifle contract demands.

This year, taxes onward hotel rooms, amusements, income and personal one's own lease transactions are rolling in at on a levels higher than expected. The real estate transfer tax continues to put forth

Cigarettes and telecommunications taxes are the merely underperforming levies. The city's corporate foundation is expected to end the year with an "unreserv stock balance" of $45.3 million.

sum of two units years ago, Daley closed the gap on adding $108.7 million in higher taxes and fee-simples

Last year's bundle included only one increase: a 20-cent hike in the city's cigarette tax.

collection Director Paul Volpe called this year's figure "manageable."

"It's the smallest gap we've announced in five years. moreover I want to be clear: We will not use this as an opportunity to, in any way, lower our efforts to improve management, resolve into costs and maximize value for taxpayers," he said.

fspielman@suntimes.com

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