City staff projects a $3.5 million deficit in the 2010-2011 fiscal year, due in large part to rising retirement costs. City Manager Bill Kelly told City Council that even with the Caruso mall, expansion at Westfield Shoppingtown and at Rusnak auto dealership, the city still faces a budget shortfall in about 5 years. He suggested a library assessment district as a potential revenue source.
The Arcadia City Council has approved a $46 million budget for fiscal year 2009-2010. The city made deep budget cuts across the board, including freezing positions and cutting employee travel. The budget includes roughly $2 million in cuts and concessions from all four city employees' unions, and projects about $45.1 million in estimated total revenues, $45.7 million in proposed expenditures, and $270,000 in employee compensation and benefit deferrals.
The Arcadia city budget of $35.8 million for the 2003-2004 fiscal year was unveiled and will be the subject of a public hearing June 14. City Manager Bill Kelly called the spending program "flat line," with only 1.5 new city jobs in the coming year. Kelly said Arcadia is protected from possible cuts to meet state budget uncertainties because of $6 million in reserves, which were earmarked but never spent in a previous budget. The city is safe for at least the next two budget years.
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.
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 officials project a $1.2 million budget deficit and have approved a combination of using reserve funds, hiring freezes, and other budget mechanisms to offset it. In order to avoid deep cuts in city services, the City Council has approved a plan to defer the city's slurry sealing program (street surface maintenance) for one year.
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 police and firefighters have voted to defer a portion of their salaries and health benefits to help close the city's budget shortfall. In total, employee pay and benefit deferments will free up about $300,000. The city is trying to close a $600,000 deficit this fiscal year in its $48 million general fund budget.
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.
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 Unified School District will face a "belt tightening" year in 2003-2004. Christina Aragon, assistant superintendent for business, said the district faces the loss of $1.4 million.
The Planning Commission will ask the City Attorney whether or not they have the power to turn down a developer even though his plans meet all requirements.
More than 400 people crammed City Hall and an adjacent outside courtyard Tuesday, as City Council wrestled with ways to slash $2 million from its annual budget.
City Manager Bill Kelly outlined his proposed budget for the 2003-2004 fiscal year which begins July 1. The Arcadia City Council will hold a public hearing and is scheduled to adopt it at its June 17 meeting.
Arcadia would lose $1.2 million in revenue during the next two years under a California State budget plan proposed by Governnor Arnold Schwarzenegger. Also, a dog park at Eisenhower Park would open.