The City of Davis released the Fiscal Year (FY) 2014-2015 Proposed Budget and posted it on the City website at http://administrative-services.cityofdavis.org/budget-and-financial-planning/city-of-davis-budgets/2014-2015-budget/2014-2015-proposed-budget. Hard copies will be available next week at the library, Senior Center, Davis Chamber of Commerce, and City Hall.
The FY 2014-2015 Proposed Budget is scheduled to be presented to the City Council on June 10, 2014, with the adoption scheduled for June 24, 2014.
The City’s overall budget is $196,146,382, which decreased by approximately $88 million from FY 13-14, mainly due to the removal of capital funds for the wastewater project. In total, the proposed budget has 428 full-time equivalent staff positions, with the equivalent of vacant 5 positions eliminated.
The General Fund is $48,133,841 of the overall budget and is balanced by using $4.2 million from reserves. Although the Proposed Budget already incorporates $1.2 million in reductions, the current structural deficit needs to be addressed and highlights the gap between revenues and expenditures. To begin tackling the issue the City Council placed an additional ½ cent sales tax measure (Measure O) on the ballot which will raise $2.7 million in FY 2014-2015 and $3.6 million annually, thereafter. Without new revenue, the City has to draw down on its reserve and/or make reductions; this is not sustainable. In the event Measure O does not pass, major program areas, such as community services, transportation, public safety, planning and building and administrative services, will have to make additional reductions upwards of $4 million to programs and staffing.
The City is working on long-term solutions to the General Fund deficit, which include advancing economic development endeavors compatible with community values and continued review of operational efficiencies.
For more information and updates, please call (530) 757-5602.
Hide From Recent Content: No