As we reported yesterday, a dire budget situation has forced Jersey City to cancel its annual July 4 concert and fireworks display. We just received the numbers on how much the city stands to save by doing so. According to city spokesperson Jennifer Morrill, the total cost to put on the July 4 event was $238,000.

The city will see an actual savings of $138,000 by canceling it, because it won’t have to pay out certain extra police, fire and emergency management costs associated with the July 4 festivities. The remaining $100,000 will be reallocated to other cultural events in July and August, like the Summerfest Concert Series, the Dance Series at the J. Owen Grundy Pier and the MLK Concerts at the HUB.