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 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.
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.
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.
Measure A would increase sales tax by .75% to bring local Arcadia sales tax rate to 10.25%. It will be placed on a June 4 mail-in ballot. If passed, Measure A would yield about $8.6 million annually, which would be dedicated to keeping city services at the levels residents have come to appreciate.