The process of building a budget is underway for Springfield aldermen.

Budget director Bill McCarty told the aldermen Tuesday evening he’s expecting a fund balance of $57-60 million and a corporate fund of almost $195 million. He said he expected no revenue or tax increases and also is not convinced we can avoid a recession after the “sugar high” of the pandemic money poured across the nation.

Ald. Ralph Hanauer said he is concerned about a talent drain because the city’s salaries do not keep up with, for example, with the state’s. The effect, he said, is that people – particularly lawyers and police officers – join the city for training and then move on.

The fiscal year begins March 1. Budget hearings continue Jan. 30 and Feb. 1 and 2.