City Will Spend, Save Unexpected Windfall
The city is projecting $2.5 million in unexpected funds that will be used for parks, roadwork and landscaping improvements and to boost savings, financial officials said at a midyear budget review this week.
“The overall budget picture looks very good,” Ronald A. Nault, the city’s finance director, said. “Revenues are coming in ahead of projections and expenditures are” below estimates.
The City Council this week voted to use $500,000 for park projects, $260,000 for landscaping in east Tustin and about $200,000 for work on Edinger Street. The council placed $1.5 million in savings for future capital improvement projects.
City revenue for the 1997-98 fiscal year is projected to be about $28.7 million--about $1.5 million above original estimates, thanks to extra sales tax and other revenue, according to city documents. Expenses for the year are estimated at about $29.6 million, nearly $1 million below original projections.
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