By Jasmine Arenas | CBS Colorado
A drop in consumer spending is affecting the city of Denver’s finances. Mayor Mike Johnston unveiled his proposed 2025 budget on Thursday, and as a result of that dip in it includes substantial cuts to programs that he’s passionate about.
Nicole Doheny, the chief financial officer for the City and County of Denver, says cities like Los Angeles and Chicago are also facing similar challenges.
“Denver is not immune to these factors. Here in Denver what these trends mean for us is that our revenue growth for 2025 is projected at 1.1%. (It’s our) lowest revenue growth since the pandemic,” Doheny said.