Lagging sales tax revenues have been offset by lower than expected expenditures, according to a budget update presented to the Placerville City Council last week. Finance Director Dave Warren said sales tax revenue, which accounts for 48 percent of the city's approximately $8.6 million general fund budget, is expected to be $10,711 less than the budgeted amount when the current fiscal year ends in June. But he also projected that expenditures will be $570,487 below budget, allowing the city to begin 2007-08 with $356,458 in carry-over funds.
Warren attributed the cost savings in part to a number of vacant employee positions.
He recommended that the council consider designating the carry-over funds to one-time capital replacement needs, partially restoring the reserve for economic uncertainties and funding a special planning project for the city's Broadway business district.
The council also agreed last week to allocate $7,500 in promotional funds for the Wagon Train and Founder's Day celebration June 9.
City Manager John Driscoll said the budget for the event, presented in cooperation with the Placerville Downtown Association, is $15,000. In addition to the city's contribution, he said, about $7,000 in donations has been received from the community.
-- Cathy Locke
Placerville Revenues Fall, But So Do Outlays
| Local News |
