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 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.
"State of the City" address was given by City Manager Dominic Lazzaretto at an event hosted by Arcadia Chamber of Commerce. Due mainly to solid property, utility and sales tax revenue, Arcadia has remained fiscally sound despite a sluggish state and national economy. Overall in 2014, the city received $56.9 million in revenue and spent $54.7 million.
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.
The new fiscal year will bring about changes in the city. Most notably, construction will begin on a new $16 million police station. Other possible projects include moving fire stations around, new signs, upgrades to infrastructure and more.
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.
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.
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.
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 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.
Senator Bob Margett told Arcadia City Council that California is facing a $15 billion deficit in the 2003-2004 fiscal year and cities could be targeted for revenue transfers.
Trip to China and Taiwan called off by Arcadia City Manager Dominic Lazzaretto, in light of recent "questions" about city officials' motives. The $30,000 in donations to fund part of the trip will not be accepted. See VF Sister City. See also Arcadia Weekly, p. 1, February 26, 2015.
A financial forecast for fiscal year 1982-83 predicts a negative balance of $1.9 million for the city of Arcadia. This projection assumes no change in the level of services or programs.
Decision 2018: Arcadia's April election is for three City Council seats, for Districts 2, 3 and 5, for 4-year terms. Candidates are Tom Beck, Roger Chandler, Robert Harbicht, Joyce Platt, Sho Tay, and Jolly Wu.
Arcadia City Council announces goals for future. In addition to budget deficit, "community building" with the city's Asian population, to be primary focus.
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.