The Santa Clarita City Council is scheduled to discuss, and possibly approve, the proposed $203 million budget for the next fiscal year at their Tuesday meeting.
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The proposed budget would total $203 million — a 2.6 percent increase from the current year’s budget — for the Fiscal Year 2018-2019, according to the agenda for the June 25 meeting.
Along with the budget increase, the proposed budget would also include a revenue surplus of almost $400,000.
City officials consider a variety of factors when projecting the next year’s revenue, including the state of the economy, historical trends, population growth and inflationary factors.
With this information, the city determines the revenues available for allocation. Additionally, the city utilizes long-range financial planning to ensure long-term solvency, according to city officials.
One of the key components of the proposed budget for Fiscal Year 2018-2019 is the Capital Improvement Program, more commonly known as the CIP. The program includes a variety of multi-year and multi-funded capital projects for Santa Clarita.
“The CIP represents a balanced approach for meeting the community’s current and future capital improvement needs,” according to city documents. “The CIP accomplishes the city’s major goals for projects, while maintaining critical ongoing maintenance.”
The CIP for the proposed Fiscal Year 2018-2019 budget would total $28.7 million, which is 15 percent less than the current year’s adopted capital budget.
The proposed budget was previously presented to the City Council — along with the Planning Commission; the Parks, Recreation and Community Services Commission; and the Arts Commission — during the Joint Budget Study Session last month.
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