ANAHEIM : City Ends Year With $5.3-Million Surplus

Boosted by increases in property tax revenue, city fees and investment income, Anaheim finished the 1988-89 fiscal year with a $5.3-million budget surplus, according to a recent financial report.

“This report indicates that the city of Anaheim has had one of its most outstanding financial years,” Finance Director George Ferrone said in a statement.

The city, whose annual budget is about $550 million, has experienced economic growth in the past two years, and that in turn led to an average 21.6% increase in property values, the report says. Revenue from city licenses, fees and permits rose 28%, and investment income increased by 26.4%.

Unemployment in Anaheim is 3%, about the same as Orange County as a whole, and lower than the national average of 5%.

Tourism continues to be an economic staple for the city, with Disneyland drawing about 13 million visitors annually. City financial planners anticipate even greater revenue from city fees for the current fiscal year as building permits for about 5,600 homes in the Anaheim Hills area are issued.

Building permit fees accounted for $77 million in August alone as a result of the housing developments in the Anaheim Hills, the report says.