Officials from bankrupt San Bernardino, Calif., said in a status report released on Friday that they have eliminated about $29 million from the city's budget deficit, and are making progress "toward fiscal stability," Bloomberg News reported on Friday. City administrators have also asked the bankruptcy judge supervising their chapter 9 case in Riverside to set a status conference within 45 days to help resolve objections to their decision to seek court supervision. "The city has made expenditure reductions that substantially reduce its staggering $48.5 million budget deficit," resulting in "a remaining projected budget deficit of about $16.03 million for the current fiscal year," wrote City Attorney Paul Glassman in the report.
