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.
Arcadia declares fiscal emergency. Budget cuts may hurt city services. After an analysis of expenditures and revenues, Arcadia City Council adopted Resolution 7242 and declared a fiscal emergency.
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.
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.
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.
Arcadia City Budget elements explained for Chamber government affairs. Administrative Services Director Hue Quach says horse race revenue for capital improvements down millions per year.
Arcadia City Council approves $55.7 million General Fund budget for fiscal year 2015-2016. Officials anticipate revenue totaling $59.7 million, enabling $4.5 million in funds transfers toward road and park improvements, staff equipment upgrades, a boost to the general liability and workers' compensation fund, establishing a reserve fund for building a new City Hall and nearly $500,000 in new programs and employees.
Arcadia Citizen’s Financial Advisory Committee releases last report. The committee, an independent, ad-hoc advisory body of civic volunteers empaneled by the City Council to review the City’s General Fund long-range financial forecast and provide recommendations to the City Council for cost containment and/or revenue enhancements, recently released its final report. The 40-page report includes 15 recommendations to Arcadia City Council to address the $8,000,000 structural budget deficit. A key recommendation is for the city to consider increasing the city’s local sales tax rate by ¾ of one cent in order to maintain current levels of services.
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.
Unanimous Arcadia City Council acts to place local funding measure, known as the “Arcadia Public Safety, City Services and Accountability Measure” on the June 2019 ballot to maintain public safety and other city services. City staff and the Citizen’s Financial Advisory Committee have indicated Arcadia has a multi-million dollar structural deficit.