Posted on June 21, 2018 at 1:40 PM by Maggie Le
On
June 5, 2018 the City Council adopted the Annual Operating Budget and Capital
Improvement Program for Fiscal Year 2018/19. The General Fund Operating Budget
for 2018/19 is balanced with a healthy operating surplus of $5.9 million. Measure
HH provides the necessary funding to maintain essential city services and funds
capital improvements, pays down debt and restores reserves. On April 26, 2018,
the Measure HH Oversight Committee concluded that the Measure HH Budget for
2018/19 is consistent with the intent of the Measure HH ballot measure and the
Responsible Spending Pledge. The City’s fiscal policy is guided by the 20-Year
Financial Plan with the goal of being debt free in 2037 when Measure HH
sunsets. The City is on a solid path towards long-term fiscal sustainability.