CYPRESS
The city’s budget for the upcoming year is expected to be about $30.5 million, about 20% less than last year’s. At a preliminary review of the 2000-01 budget, Richard Storey, interim city manager and finance and administrative services director, said the city would be working with $7.2 million less than the previous fiscal year.
The maturity of redevelopment debt principal and a decrease in a need in funds for capital projects--especially the Lincoln Avenue Streetscape--are the main reasons for the budget decrease, officials said.
The final budget will go before the City Council on June 26 and, if approved, would take effect July 1.
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