La Puente : City to Tap Reserve Funds
Saddled with escalating law enforcement costs and sparse growth in revenues, the city will dig into its reserves for $1.15 million under the 1992-93 fiscal year budget adopted unanimously by the City Council last week.
Despite the shortfall, City Manager Robert Gutierrez said the $11.01-million operating budget will not require any layoffs or reductions in city services.
Gutierrez added, however, that city employees will be forced to forgo cost-of-living pay raises, pending approval of labor unions. Also, several capital projects will be postponed indefinitely, he said.
Gutierrez said revenues are projected to increase only 1.5% for the fiscal year beginning July 1, while contractual services provided by the Sheriff’s Department will rise 8%, to $3.7 million.
“And we’re still bracing for potential cuts in revenues from traditional funding sources, such as the state,” Gutierrez said.
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