Wow. Berkeley's Budget Balanced.

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Despite all the grim financial news cropping up, Berkeley city officials are confident the city's budget will still be in the black, the Daily Cal reports. City planners caution that the state and the federal government will undoubtedly start cutting back on grants and social programs, and that the City Council must prepare for a leaner future. In addition, vacancies in the Fire Department have led to some $700,000 in overtime pay, which officials said must be controlled, possibly with a tax measure in November, Nonetheless, this isn't the kind of news we expected in this economic cycle.

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