The City Council adopted the FY 2017 budget on June 13 that reflects a strong economy, but increased demand for city services and strategies to address traffic and parking. The $642.4 million budget includes $194.1 million in General Fund and $68.2 million in capital projects for FY 2017. Citywide, eight full-time equivalent positions were added, primarily in Planning and Public Works.
The 2017 General Fund expenditure budget of $194.1 million is balanced with $195.1 million in revenues. A larger than expected increase in revenues combined with the deferment of several capital projects allowed the 2017 budget to be balanced without using funds from the Budget Stabilization Reserve as originally proposed. In addition, the Council agreed to add $750,000 into a trust for pension liabilities. For more details, click here.