Beverly Hills : General Fund Budget Adopted
The City Council on Tuesday adopted a 1988-89 general fund budget of $63.3 million in expenditures--less than a 2% increase over last year. Revenues for the year are projected at $62.8 million--an increase of 7%. The nearly $430,000 difference between revenues and expenditures would be made up from a nearly $2.6 million balance carried over from the current fiscal year.
The largest expenditure is for public safety, which makes up nearly 40% of all expenditures. The city is adding three police officers for foot patrols in the business districts.
The rise in revenues is expected from an increase in property taxes because of increased homes sales and an increase in sales taxes because of additional tourists expected for the city’s 75th anniversary celebration, an 18-month event that begins in July.
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