Rancho P.V. Adopts $14.7-Million Budget
The Rancho Palos Verdes City Council this week adopted a 1991-92 general fund operating budget of $7.4 million, a capital improvement budget of $2.9 million and special fund budgets of $4.4 million, for a total of $14.7 million.
While city officials were able to trim about $4 million off last year’s total budget, city coffers will continue to be unstable with the “constant erosion of income because of inflation,” City Manager Paul Bussey told the council. “The general fund income must be increased.”
City officials late last year discovered a $2.8-million deficit in the city’s budget but were able to correct it by trimming some budgets and by transferring money from one fund to another.
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