As sibling city Champaign faces cuts in spending, chances are Urbana may be following in its footsteps, as will be discussed in a financial report given by Ron Eldridge, city comptroller, at Urbana City Council’s regular meeting Monday night.

After going back and forth in the courts for years, a property tax payment of $204,000 from Provena Covenant Medical Center may cause minor relief from a deficit of $225,644. The shortfall is on account of a decrease in the amount of unspent budget but mostly a decrease in estimated revenue, according to a Feb. 1 memorandum from Eldridge to the city council.

“Short of (the Provena property tax payment), I think we have to do some more cutting, or we have to raise revenues,” said Charlie Smyth, Ward 1.

As it was in fiscal year 2010, six municipal positions are vacant and Eldridge is projecting revenues to increase by about 3 percent next year. Further projections show the deficit following the city into fiscal year 2011, given that no salary adjustments are considered, for a total difference of $483,000 between normal recurring expenses and revenues.

Salary negotiations continue as the city is in arbitration with the police union. Any changes would need to be retroactive to July 1, 2010.

In addition to the financial report, the annual report will be given on the Market at the Square on Monday, as well.

During the Committee-of-the-Whole, an amendment to the annual budget ordinance will be up for approval. This will allow funding from the Motor Vehicle Parking System to be used for the Urbana Signage and Wayfaring plan’s first phase: parking and regulatory signage.