The Arcadia Board of Education has adopted a $63.9 million General Fund budget for the coming year. The budget contains reductions across the board, with 10% cuts at schools, a reduction in categorical programs and no cost of living increase from the state.
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.
Los Angeles County Parks and Recreation Proposition A funds will be used to re-do the Civic Center athletic field and light more soccer fields. The City Council also adopted a five-year capital budget.
Reserve funds that were set aside for city infrastructure improvements may have to be used to deal with state budget cuts, as proposed by city manager Bill Kelly.
The City of Arcadia faces mid-year budget cuts as the state has its own budget problems. Arcadia will have to sustain a $2.9 million cut this year, a loss of funds that comes from vehicle license fees.
City Manager Bill Kelly presented a "flat line budget" to the city council. Kelly said current uncertainties in state funding will not be resolved until after the election. The city will revisit the budget at midyear.
In an attempt to produce permanent revenue enhancement, the City Council has agreed to go to ballot with a Fire Suppression District assessment which would ask property owners to tax themselves to achieve a balanced budget.
City of Arcadia faces new budget year with caution, even though there is a surplus. Arcadia is projecting a budget of $29.96 million, down from $30.5 million the year before.
Arcadia Unified School District is looking to cut 10% of its budget for district offices and school sites in preparing the budget for the 2003-2004 school year.
Arcadia City Manager Bill Kelly is skeptical about the way the State of California balanced this year's budget. The State promises to pay cities back for sales tax to be used to pay off $10.7 billion in loans. The maneuver, known as the "triple flip" will take half of the cities' sales tax revenue for the next five years, and pay it back out of property taxes now earmarked for schools. Arcadia will lose 25% of its vehicle license fee reimbursement, around $750,000. Arcadia is in good shape this year and next, primarily because of a healthy reserve fund. After 2004-2005, unless some solutions are in place, the city could face some hard times.
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.