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FV Newsletter

The Fountain Valley Communications Team has been created to keep the community informed and connected on various departments’ programs and services including upcoming events. The team decided to create a monthly Fountain Valley Newsletter to update residents on subject matter we believe is of importance to you. 
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Jun 17

Annual Operating Budget and Capital Improvement Plan for Fiscal Year 2019-20

Posted on June 17, 2019 at 3:38 PM by Tonisha Beal

FY 19-20 Budget Cover

On June 11, the City Council adopted the Annual Operating Budget and Capital Improvement Plan for Fiscal Year 2019/20, which provides a funding road map for the coming year that enables us to deliver cost-effective, quality public services that will provide a safe and desirable community that enriches its residents and businesses.  

The General Fund Budget for 2019/20 reflects a balanced operating budget where operating revenues exceed operating expenditures by approximately $6.7 million. This $6.7 million balance is programmed in accordance to the City Council’s 20-Year Financial Plan and the Measure HH Responsible Spending Pledge. $4.7 million dollars will be set aside to rebuild City reserves and $2 million dollars will be used to make an additional payment to CalPERS. The City’s fiscal policy is guided by the 20-Year Financial Plan, which provides for long-term fiscal sustainability.

The Measure HH – Essential City Services Oversight Committee oversees the receipt and expenditure of Measure HH revenues and ensures fiscal accountability and transparency. On May 2, 2019 the Oversight Committee concluded that the budgeted Measure HH revenue and expenses for 2019/20 are consistent with the intent of the Measure HH ballot measure and the Responsible Spending Pledge.