LCF Wraps Up Budget; Pledges $359,375 to Community

La Cañada Flintridge City Council members agreed on Monday to spend $359,375 to support 11 local community groups and spend $914,700 on capital projects such as street improvements and bridge repairs.
In the third and final of its annual budget hearings, the City Council decided to take $354,550 from reserves, $100,000 from its solid waste funds and increase its conservative revenue expectations by adding $125,000 to the budget for items they deem necessary in the coming fiscal year.
The previous week, council members reviewed the city’s financials to learn that it expects to bring in a total of $13.863 million in 2017-18 and to have $13.118 million in expenses, which left a preliminary balance of $745,550 for council consideration items. Continue reading “LCF Wraps Up Budget; Pledges $359,375 to Community”

LCF Defines Budget; Reserves to Slip in 2017-18

If the 2017-18 budget proposed Tuesday is approved in July, the city will allocate an additional $40,000 toward assigned sheriff’s patrols and see its financial reserves drop below 100% of operating expenses and revenue totals for the first time in years.
In the first of three or four planned budget meetings this year, council members reviewed the city’s financials: In the upcoming fiscal year, LCF expects to bring in a total of $13.863 million and to have $13.118 million in expenses, leaving a balance of $745,550 for council consideration items. Continue reading “LCF Defines Budget; Reserves to Slip in 2017-18”