City Manager Lyman Cozad is assuming that there will be a 25% increase in assessed valuation which should make budgeting easier for 1976-77, but will not result in a lower tax rate.
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.
Arcadia's proposed city budget will be about $24.4 million, up 8.9% from the $22.4 million 1985-86 budget, according to a report from City Manager George Watts.
An extensive biography of George Watts, who has been named acting City Manager, succeeding Lyman Cozad who left to become manager of the League of California Cities.
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).
Tax rates are being increased in the city's five lighting districts. Article discusses status of other tax rates and notes an increase of 9.2% in the total assessed valuation of all properties in Arcadia.
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.
"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 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.
The city budget passed unanimously on Tuesday night and included the elimination of 9 full-time employee positions, an increase in paramedics fees and a one-year, 1 percent utility tax increase.
Lyle W. Alberg has been chosen City Manager from more than 100 applicants. He has had more than 20 years experience in city government and will assume the post vacated by Lyman Cozad as of January 1, 1978.
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 Arcadia City Council approved a $48.7 million budget Tuesday without the significant reductions many other cities are facing due to a downturn in the economy.
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.