The Encinitas City Council adopted the city’s operating and capital project budget for fiscal year 2016-17 during the city council meeting on June 22, 2016, the city announced.
Appropriations for operations total $79.1 million while $26 million has been appropriated for capital projects. Revenue to support the approved budget is estimated at $91.8 million, with a fund balance of $13.3 million providing the remaining funds necessary to balance the budget.
In fiscal year 2016-17, estimated revenue is expected to increase $1.8 million. Much of the increase is attributed to growth in property tax revenue, which accounts for more than half of the city’s available financing sources.
Adjustments to expenditures total $1 million and cover the costs of current labor contracts and benefit obligations. Funding is also provided for the San Diego Regional Opening Doors pilot project aimed at ending veteran homelessness in Encinitas and for additional overtime for sheriff’s deputies.
The city’s reserves are fully funded at levels established by city council policy.
The adopted operating budget will continue to maintain the current level of services provided to residents and visitors to the city of Encinitas without increases in fees or to the number of full time equivalent employees of the city, the city announced.
Major capital projects funded in the fiscal year 2016-17 budget include full funding for Phase 1 of the North Highway 101 Streetscape project, the pedestrian at-grade railroad crossing at Montgomery Avenue, the design and development of a neighborhood park at Pireaus Steet and Olympus Street, and safe routes to school improvements in the Cardiff Unified, San Dieguito Union, and Encinitas Union school districts, the city announced. A complete list of capital projects funded in the six year financial plan is available on the city’s website: http://www.encinitasca.gov/.
The adopted budget projects fund balances of $48.9 million at the end of fiscal year 2016-17.
Questions about the fiscal year 2016-17 budget should be directed to Tom Gallup, finance manager, 760-633-2648, firstname.lastname@example.org. Residents may also view and analyze the city’s prior year financial results and current annual budget using OpenGov, a web-based application that makes the City’s finances more easily accessible and understandable to the public. This tool can be found at http://EncinitasCA.OpenGov.com.
Published: July 12, 2016
Source: Seaside Courier