BUDGET REVENUE LIKELY TO DROP; SIMI SEES GROWTH BOOM DECLINING.Byline: Sylvia Sylvia may refer to:
As the city sees the end of a three-year development boom, it is also preparing for the declining revenues expected from the slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. of a cycle. While the current fiscal year is closing on a high note, the 1999-2000 fiscal year that will begin July July: see month. 1 is not expected to see another development revenue stream like the one that ran through the city. ``It has been a very good year this year, but a lot of additional revenues were from development related resources,'' said Ken Schechter, the city's budget officer. ``That kind of growth we don't expect to have in the future. When a developer does a project there's only so many projects out there and only so much land.'' The city's preliminary budget released Thursday projects a balanced budget Balanced budget A budget in which the income equals expenditure. See: budget. balanced budget A budget in which the expenditures incurred during a given period are matched by revenues. with total revenues of $38.5 million, expenditures of $38.3 million. And the city is projecting being able to increase its reserve by more than $282,000 to $22.3 million. Increased expenditures for the coming year are mostly the result of salary adjustments promised in union contracts and to management positions. Still, the city is considering a wish list of new expenditure proposals - from a new Police Department community services specialist to equipment at the Cultural Arts Center. City officials said the decrease in revenues and the expected 1.7 percent increase in expenditures will not hinder hin·der 1 v. hin·dered, hin·der·ing, hin·ders v.tr. 1. To be or get in the way of. 2. To obstruct or delay the progress of. v.intr. the City Council from coming up with a balanced budget. Among the possible increases: A new community services specialist for the Police Department's emergency service unit at a cost of $56,600. A video projector A video projector takes a video signal and projects the corresponding image on a projection screen using a lens system. All video projectors use a very bright light to project the image, and most modern ones can correct any curves, blurriness, and other inconsistencies through for the Cultural Arts Center at a cost of $15,600. Contracting for additional street sweeping street sweep An investment strategy in which large amounts of a company's stock are quickly purchased. Street sweeps generally occur in the stock of a company involved in a takeover attempt. Also called market sweep. for four days per month for $21,600. The budget documents also identify areas that can be considered for cuts by the council before it finalizes the budget at the end of June. Included among those are line items ranging from eliminating the city's annual trip to the National League of Cities The National League of Cities is the oldest and largest organization in the United States devoted to strengthening and promoting cities as centers of opportunity, leadership and governance. meeting in Washington, D.C., to eliminating positions throughout the city's departments. ``They're not recommended cuts, just areas where, if the council wants to start cutting, these are areas each department has identified where they can start,'' Schechter said. The city will hold a public meeting where citizens can ask questions and voice their opinions on any budget item beginning at 5:30 p.m. Tuesday at City Hall, 2929 Tapo Canyon Road. |
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