City’s Healthy Revenue Projections Bode Well for 1997-98
Residents will hear some good news today when the city holds a special meeting to review its budget for the 1997-98 fiscal year.
Financial projections show the general fund revenue is expected to increase 3.8%, from $6.8 million for fiscal year 1996-97 to $7.06 million this coming fiscal year, which begins July 1.
City officials attribute the increase to a 5% rise in property tax revenue and a 3.3% increase in sales tax revenue.
Overall, city staff is proposing an annual budget for Los Alamitos of $8 million. The City Council is expected to adopt the budget at its June 23 meeting.
The proposed budget includes funding for several capital improvement projects, including $35,000 to renovate the restroom at Laurel Park.
It also includes partial funding of $89,000 to build restrooms at Little Cottonwood Park, expected to cost $130,000. The city hopes to get the additional $41,000 through grants, Assistant City Manager Gerard Goedhart said.
Two new city entry signs are proposed for Los Alamitos Boulevard at a cost of $16,100.
The budget meeting will be at 4 p.m. in council chambers at City Hall, 3191 Katella Ave.
Information: (562) 431-3538.
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