You could sum up more than two hours of the first night of budget hearings in Springfield Wednesday in a four-second exchange.

Ald. Roy Williams: “Is this budget sustainable?”
Budget director Ramona Metzger (pictured, at mic): “No.”

The spending plan discussed Wednesday – which almost assuredly will not be the final product enacted in February – carries a $215 million corporate fund and uses $32 million of the city’s fund balance, or savings account.

At this rate, said Ald. Ralph Hanauer, there will be nothing left in the piggy bank soon enough. “We’re in bad shape here,” he said. “I’m not trying to scare people, but you look at the three-year trend. I mean, either you do one of two things: you cut or you raise taxes. Who wants to make the decision to raise the property tax or whatever?”

Wednesday was the first of four budget hearings, with the second one Thursday. The rest are Jan. 18 and Jan. 23. The city’s fiscal year begins March 1.