i do want to recognize marty hackett, one of our partners who retired in november after almost 30 years. we thank him very much for his service. i want to bring up katie very quickly to give you just a preview of the budget instructions and some of the budget challenges which are better, but that we will nonetheless be facing in the coming months. >> good afternoon, commissioners. it is that time of the year. the mayor's office issued budget instruction to all departments last tuesday, december 6. for the coming two fiscal years, in fact, because the city is about to enter into two-year budget cycles. they have asked us -- they have given us general fund reduction targets both for fiscal year 2012-2013 as well as for fiscal years 2013-2014. the budget office currently projects a general fund shortfall for the coming fiscal year in the amount of $263 million, which, oddly enough, is actually good news, compared to what they had originally projected and certainly what we have seen in the past number of years. the budget instructions for general fund departments this year come in four part