POULSBO — The City of Poulsbo faces a revenue shortfall of nearly $475,000 in the 2012 budget, and the City Council is buckling down to find ways to resolve the gap.

The finance department released the preliminary budget for review by council members and the public Wednesday.

The city’s proposed budget for 2012 forecasts expenditures of $25,987,118. The council meets for an all-day workshop today to begin looking at costs they can trim. Public hearings are scheduled Nov. 9 and Nov. 16, 7:15 p.m., during regular City Council meetings.

Mayor Becky Erickson also presented recommended adjustments to the budget, which would reduce the gap from $474,117 to approximately $170,000.

The council will review the budget one last time on Dec. 14, and will only adopt the budget once it is balanced. The council is expected to adopt the plan Dec. 21.

View it at www.cityofpoulsbo.com/finance/finance_budget.htm.