By Ted Schnell • BocaJump | Nov. 10, 2011

The Elgin City Council and city administration are scheduled to sit down Friday afternoon to begin the council’s formal examination of a proposed 2012 budget beset by plummeting revenues.

BocaJump will be on hand to provide live-blogging coverage of the special afternoon session scheduled to run from 1 to 4:30 p.m. in the City Council chambers.

City officials had anticipated a $4.5 million deficit early this year, but property values dropped much more sharply than expected, pushing the deficit up to $10 million to $13 million.

The city administration was expected to publish its proposed budget on Tuesday on the city of Elgin website, the same day it was supposed to be sent to the City Council. It still had not been posted as of Thursday evening.