Arcadia Finance Director, Charles Reiman, announced a 10.2% increase in the operating budget of the city of Arcadia for 1979-80. This was the first of 2 public hearings on the budget.
A $9 million budget has been proposed for 1975-76. City manager Lyman Cozad feels that no tax increase will be necessary due to the higher valuation of city property.
Inflation and the energy shortage are causing the city management grave concern about meeting the budget. City Manager Lyman Cozad expects a $120,500 increase in sales tax from Fashion Park for the 1974-75 fiscal year. He also expects an $84,000 rise in property taxes.
A final tentative budget for the 1978-79 school year has been adopted by the Arcadia Board of Education. The final figure was set at $15.4 million, but will probably be revised as state formulas affect the budget during the year.
A $10.4 million budget will be aired for the public June 14, 1976. The largest item is $2.2 million for the Police Department. Next is the Fire Department at $1.6 million.
The five year Capital Improvements program will be reviewed by the City Council on March 16. The total dollar amount reflects a major reduction over previous years. Specifics are outlined.
The City Council gave $12,755 to the free clinic, but made it clear that this organization would need to follow regular city budget request procedures if it requests funds in the future.
The Planning Department hopes to get a marked and some-what protected bicycle path through the city that would link up with adjoining areas. The city has included $10,000 in the capital improvements budget for 1975-76.
Arcadia would lose approximately $472,268 yearly if Santa Anita Park race track were to close down and the 324 acre facility were to be developed with low density residential units. Losses would be partially offset by $190,750 in new property taxes and $278,482 miscellaneous taxes. New city services would account for a 6.18% increase in the city budget.