Arcadia's proposed budget for fiscal year 2018-2019 has structural deficit of nearly $3.1 million. City Manager Dominic Lazzaretto says Arcadia is at a fiscal crossroads. See hard copy in VF Budget.
"State of the City" address was given by City Manager Dominic Lazzaretto at an event hosted by Arcadia Chamber of Commerce. Due mainly to solid property, utility and sales tax revenue, Arcadia has remained fiscally sound despite a sluggish state and national economy. Overall in 2014, the city received $56.9 million in revenue and spent $54.7 million.
Arcadia plans for the future. Arcadia City Manager Dominic Lazzaretto presented the City's Fiscal Year 2018-2019 budget. Fiscal year 2018-2019 budget maintains existing levels of public services, but the City can no longer guarantee that services will remain at current levels over the long term. Due to recent changes in state law and other fiscal constraints, the City's proposed budget has a structural deficit of nearly $13.1 million in expenditures in excess of revenues.
The city budget passed unanimously on Tuesday night and included the elimination of 9 full-time employee positions, an increase in paramedics fees and a one-year, 1 percent utility tax increase.
The Arcadia City Council approved a $48.7 million budget Tuesday without the significant reductions many other cities are facing due to a downturn in the economy.
The City Council approved a $57 million budget for 1993-1994 which closes a $2.1 million deficit with $266,000 in increased revenues, $880,000 in cuts and $1 million of the City's $5.6 million in reserves.
The City Council approved a $57 million budget for 1993-1994 which closes a $2.1 million deficit with $266,000 in increased revenues, $880,000 in cuts and $1 million of the city's $5.6 million in reserves.
The City Council increased the bed tax, charged to customers staying in a hotel, from 8% to 10%. The increase will generate an estimated $140,000 a year, which would help to close the city's projected $2.2 million shortfall in the 1993-94 budget.
The new City Council has several options to try to fill the projected $2.2 million general fund budget gap. Options include dipping into city reserves, raising taxes and fees, salary cuts and layoffs.
Measure A would increase sales tax by .75% to bring local Arcadia sales tax rate to 10.25%. It will be placed on a June 4 mail-in ballot. If passed, Measure A would yield about $8.6 million annually, which would be dedicated to keeping city services at the levels residents have come to appreciate.
The City Council approved a $25.7 million general fund budget after resolving a $418,000 projected shortfall and agreeing to the closure of City Hall on alternate Fridays.
Property owners overwhelmingly rejected the city's $2.2 million tax increase Tuesday, casting "no" votes by a 2 -to- 1 margin against the Fire Suppression District.
Measure A seeks to repeal utility users tax in Arcadia, on the April 12 ballot. The utility users tax is a source of revenue expected to generate $7 million for the city this year. Arcadia charges residents 7% for gas, water, and electricity, and 5% for telephone on utility bills. The city estimates each household pays less than $10 per person per month on average. The tax is 12.5% of the city's $54.9 million general fund budget. If repealed, it would mean a 12.5% cut to city services, including cutting 12 police officers, closing a fire department, increasing blight, street sweeping would be reduced from weekly to every other week. Programs for children and seniors would be eliminated and library and museum hours would be reduced significantly. Larry Papp helped author the initiative.
A unanimous City Council adopted a "conservative" $42.5 million 1990-91 budget after fine-tuning some expenditures to the Chamber of Commerce and the workers' compensation program. The city has $33.8 million in reserves going into the 1990-91 fiscal year, and expects another $42.6 million in revenues.