Laserfiche WebLink
<br />25:0008 <br /> <br />be needed in October of 1982. This increase would provide an esti- <br />mated additional revenue of $l80,000 in 1982-83 and $300,000 in the <br />following fiscal year. During this review the \Va ter Manager responded <br />to questions, and noted specifically that the City has a surcharge <br />ordinance but it has never been implemented. <br /> <br />EQUIP~lliNT REPLACEMENT FUND - Estimated Funds Available reflected and <br />equipment to be replaced. <br /> <br />SELF FUNDED INSUfu\NCE RESERVE FUND - Premiums for liability and fire <br />insurance are included in the General City Budget. Renewal date on <br />general liability coverage is June l, 1980. <br /> <br />RECESS <br /> <br />1 <br /> <br />ARCADIA REDEVELOP~ffiNT AGENCY - Beginning balance indicated with es- <br />timated revenues from property tax increments and contracts receiv- <br />able - principal and interest, also rent. Expenditures with totals <br />due Capital Outlay Fund Loan and total due General Funds from Agency <br />Operations. A separate report reflected Loans Payable as of June <br />30, 1980, and total ARA due City Funds. <br /> <br />PROPOSED BUDGETS BY FUNDS - Funds indicated --- Transfer from be- <br />ginning balance, estimated revenues other than property tax and <br />amount from property taxes. <br /> <br />SU}lliARY OF PROPERTY TAX REVENUES - Estimated for 1979-80 and 1980-8l. <br />Distribution of tax revenues by funds (General Fund and Debt Service.) <br />(The estimated property taxes for the two fiscal years include State <br />Assistance Funds (AB 8) in the amount of $458,000. <br /> <br />ESTlllAtED REVENUES OTHER THAN PROPERTY TAXES - GENERAL FUND <br />This was reviewed item by item. <br /> <br />GENERAL FUND - Current estimate for end of the fiscal year. <br /> <br />AVERAGE PAYOUTS EACH MONTH - informational data. Reflecting Payables <br />out of all funds and the General Fund. Also salary and fringe bene- <br />fits from all funds and the general fund. Projection of General <br />Fund appropriations - based on annual increase of 8% for Personal <br />Services, Supplies and Outlay Items. <br /> <br />UTILITY TAX - this reflected estimated revenue through June 1980 both <br />at the current 7% and at a 5%. During this deliberation the reduction <br />from 7% to 5% "as dis cussed and it was felt that with the figures sub- <br />mitted at this meeting and at subsequent sessions and the impact of <br />Proposition 9 if it passes, the City Council will be in a better posi- <br />tion to take action if it so desires. <br /> <br />PROPOSITION 9 - STATE INCOME TAX REDUCTION INITIATIVE <br /> <br />Revenue Source - indicating the estimated cut-back in the General Fund <br />if the measure passes June 3. <br /> <br />1 <br /> <br />Other areas covered by the Finance Director were: <br /> <br />Debt Service <br />County Gas Tax <br />Lighting Maintenance Districts <br />Revolving Funds <br />Traffic Safety <br />Vehicle Parking District Nos. land 2 <br />Cash Basis <br />Grant Programs including the Senior Citizens Program <br /> <br />-2- <br /> <br />4-26-80 <br />