Laserfiche WebLink
Budget <br />City Manager Stratton stated she would like to give the City Council <br />an overview of the proposed 1991-92 General Fund Budget. <br />Mrs. Stratton then outlined the current estimated 1990-91 Fund Balance <br />of $2,259,523; the projected 1991-92 revenues and transfers of $17,260,700; <br />available to fund the Fiscal Year 1991-92 Budget, $15,001,177; Depart- <br />ment Budget Requests of $24,537,393; leaving a shortfall of $9,536,216. <br />Mrs. Stratton reported former City Manager Sotelo had made cuts to the <br />departments' budgets, reducing the shortfall to $5.4 million. <br />Mrs. Stratton also reviewed proposed Budget management procedures, which <br />could reduce the total Budget Request shortfall to $3,077,658. <br />Mrs. Stratton advised the Council may want to consider possible further <br />reductions and revenue enhancements as outlined in her memorandum, in <br />particular borrowing $3.1 million from the Sewer Utility Reserve Funds <br />with payback in 1992-93 and 1993-94. Mrs. Stratton concluded she would <br />request Council's direction in this regard. <br />After additional discussion, Council consensus was to support the recom- <br />mendations as outlined by Staff. <br />ADJOURNMENT: <br />Moved by Councilman Lofy, seconded by Councilwoman Cisneros and unani- <br />mously passed, Mayor Gonzales adjourned the Meeting at 5:28 p. m. <br />HELEN A. RAMOS, CMC <br />City Clerk <br />City of Colton <br />3 <br />AUG 1 199 <br />