New Budget to Resort to Reserves
Carson will have to take $5.5 million from its reserves to conform to a $34.8-million budget that three council members approved Tuesday. Revenues are projected to be $29.3 million.
The budget, which was passed with the fiscal year more than half over, will leave the city with a reserve of only $2 million.
City Administrator Jack Smith said: “We think this is a low spot in our revenues, and it is going to improve.”
The city expects to begin receiving $1 million during the next fiscal year from special revenues allocated by the Legislature to cities with low property taxes or none.
The financial plan represents a 16% increase over last year’s budget. A major increase came in the $2.2-million capital budget, much of which is to go for construction in Veterans Park. There was no capital budget in the last fiscal year, and Smith said that capital expenses will be limited again in the future.
Voting for the budget were council members Michael Mitoma, John Anderson and Sylvia Muise. Councilwomen Kay Calas and Vera Robles DeWitt were absent.
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