FY2010-11 Budget Adopted; Lowers Utility Tax To 4%

[admin]

On June 15, 2010, the La Palma City Council adopted a $26.9 million budget for the 2010-11 Fiscal Year and voted to reduce the local Utility Users Tax (UUT) to 4% for the third year in a row... While the adopted budget uses $235,000 of the City’s General Fund Reserves, the City Council chose to reduce the UUT after considerable discussions about the economic climate and its effect on La Palma taxpayers. A General Fund Reserve balance of $14.15 million – or 139% of ongoing operating costs - is projected for the end of the 2010-11 Fiscal Year.
Mayor Steve Shanahan said, “The City is trying to do its part to help residents get through this recession while still addressing long-term needs of the community. In addition to reducing the UUT, over the past two years we have implemented a building permit fee holiday, established a tree planting rebate program, and have not raised user fees.”

Some noteworthy expenditures included in the Fiscal Year 2010-11 budget, include:
• $1,790,000 for arterial street rehabilitation projects
• $1,152,000 for residential pavement rehabilitation projects
• $1,169,000 for various water, sewer, and storm drain system improvements
• $200,000 for completing the arterial block wall painting project
• $200,000 for new street signs citywide

The City’s adopted budget and a variety of other financial documents are available for review at La Palma City Hall or on the City’s Finance page of the website.