Monrovia's Fiscal State: Difficult, But We Have a Balanced Budget

Monrovia City Manager Laurie Lile explains the city's fiscal situation:

Our Current Condition: 

- Since 2008, we have reduced staffing by 17%, an equivalent of 47 positions, and cut $2 million in expenditures.
- These cuts came to our key services, like street resurfacing, the Monrovia Area Partnership, literacy services, community policing, building and engineering.
- Federal and State regulatory compliance has remained constant.  That means that we still have to comply with many government regulations, like Storm water, state realignment for prison releases, energy compliance measures, and shutting down Redevelopment.  These are things that cannot be ignored when we realistically discuss what the City should be focusing on.
- Redevelopment funding has been taken away, and we don’t expect it to come back any time soon.
- Sales tax revenue, the second largest revenue source to the City, has been down 25% over the past three years.
- Property taxes remain flat.
- The good news: Monrovia’s budget is structurally balanced.

Source: http://goo.gl/wL2XO

- Brad Haugaard