CITY WARILY EYES BUDGET STANDOFF.Byline: Heather MacDonald Staff Writer SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, - The city's finances are in limbo limbo In Roman Catholicism, a region between heaven and hell, the dwelling place of souls not condemned to punishment but deprived of the joy of existence with God in heaven. The concept probably developed in the Middle Ages. as state lawmakers continue to wrangle over how best to close California's $23.6 billion deficit more than a month after the budget deadline. More than a month has gone by since the Santa Clarita City Council passed a $118 billion spending plan for the 2002-03 fiscal year, but officials are still waiting to see whether the state will slash millions in expected revenue. ``We're watching Sacramento closely,'' said Steve Stark, the city's director of administrative services. ``That's about all we can do.'' Because of the gaping gap·ing adj. Deep and wide open: a gaping wound; a gaping hole. gap  ing·ly adv.Adj. state deficit, the City Council approved a budget that holds the line on spending and adds only a few new programs. Other pressures on Santa Clarita's budget include the slowing economy, mounting legal bills and an increasing amount of debt. City officials' biggest concern is that state officials might decide to make up some of the budget shortfall by ending reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. to cities for cuts the state made in the vehicle license fee; Davis also wants to increase taxes on motorists. Thus far, negotiations over the budget have stalled stall 1 n. 1. A compartment for one domestic animal in a barn or shed. 2. a. A booth, cubicle, or stand used by a vendor, as at a market. b. because Republicans have vehemently opposed any tax increases, and Democrats have been unable to craft a compromise or find other spending to cut. While city officials believe a $5.5 million cutback cut·back n. 1. A decrease; a curtailment: "The political effects of food cutbacks could be devastating" New York Times. 2. is unlikely, interim City Manager Ken Pulskamp has said it would force city officials to overhaul the city's budget. ``We've built up our reserves in order to absorb a less-than-significant impact, but we'd have to address a significant cutback,'' Stark said. However, officials have found it difficult to rebuild the reserve accounts because of declining revenues and increasing debt, records show. The city's budget proposal sets aside $6.6 million in a variety of reserve accounts - about $1 million less than last year and $6 million less than 1999, records show. The new savings accounts Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: , which include a fund set aside to match state transportation and road grants and a capital project reserve, will help the city manage its money and be prepared for unanticipated events, Stark said. The budget also is dependent on strong sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. revenues, which could decline if the economy does not continue to improve or even worsens, Stark said. ``Its an uncertain time,'' Stark said. |
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