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 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.
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.
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.
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.
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.
City Council approved a $12 million general fund budget. The budget represents an increase of 13 percent over the 1980-81 budget and includes 9 percent pay raises for all employees (except police who have not completed negotiations).
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.
City Council accepts appropriation budget of $17.6 million. Acceptance does not imply approval. That will follow a public hearing scheduled for June 21.
At the Arcadia City Planning Commission meeting of June 13, City Manager Bill Kelly gave a brief overview of the Santa Anita Entertainment Center Project (SAEC).
On June 20, the Arcadia City Council adopted the City's operating budget and capital improvements budget. For the first time, the city is embracing a two-year budget program.
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.
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.