Pleasanton To Host City Budget Update
PLEASANTON, CA —The Pleasanton City Council will receive an update on the city’s finances at their Tuesday meeting, as they prepare to develop budgets for the next two fiscal years.
The city has faced significant budget challenges recently, which resulted in the City Council voting to place a measure on the November ballot that would impose a half-cent sales tax to generate about $10 million a year in additional revenue.
In recent years, the city’s operating costs have risen faster than revenue due to population growth, increased service demand, rising expenses, the phasing out of federal stimulus funds, declining hotel tax revenue, and more. The city is also impacted by aging infrastructure, and funds to replace irrigation, lighting, vehicles, equipment, and more are limited, according to a city staff report.
Find out what's happening in Pleasantonwith free, real-time updates from Patch.
Pleasanton is currently experiencing a $13 million annual budget shortfall, according to the city.
Though the city maintains reserves to cover funding deficits, the reserves are not sufficient and do not represent a sustainable strategy. The city is required to maintain a balanced budget each year, which means new revenue streams and possible cuts to services and personnel may be necessary.
Click Here: Gws Giants Guernsey
Find out what's happening in Pleasantonwith free, real-time updates from Patch.
See here for more information, and here for the full Tuesday agenda.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.