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.
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.
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 $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.
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.