Inglewood : $82.5-Million Budget OKd
The City Council unanimously approved the 1986-87 budget this week. Under the $82.5-million budget, city staff and services will remain about the same and there will be slight increases in water bills and in parking rates at city-owned ramps and garages.
To balance the budget without scaling back municipal services, officials will have to dip into the city’s reserves for the first time in almost 10 years. Cutbacks in federal funding and soaring insurance costs have prompted city officials not only to pull $250,000 out of the kitty, but also to reallocate $300,000 in revenues that would normally go into reserves. Officials say, however, that several businesses currently under construction will generate increased sales-tax receipts that will help rebuild reserves in coming years.