Slowing Vehicle Sales Mean Less City Revenue, Deficit Will Draw on Reserves

At 6:45 p.m. this Tuesday the City Council will hold a closed session to evaluate the city manager (details) followed by its regular meeting (agenda here), at which it will:

~ Receive a budget update that shows "there continues to be a slowing of sales tax revenues due to a reduction in revenue from new vehicle purchases."

"In total, the City’s overall budgeted revenues for Fiscal Year 2023-24 are projected to be $132.80M and budgeted expenditures are $138.18M for Fiscal Year 2023-24. The excess of budgeted expenditures over budgeted revenues is the planned use of reserves that have been set aside in a prior year and that are approved as part of the budget." More here. 

~ Consider proclaiming June 8 as Race Unity Day and June as LGBTQ+ Pride Month. 

~ Then, at 10:30 a.m. Wednesday the council will hold a goal setting meeting at the Doubletree. Details. 

- Brad Haugaard

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8 comments:

  1. AnonymousJune 1, 2024 at 6:23 AM

    Basically a projected 5 million dollar deficit. So actual is going to be much more as we all know they generally over budget revenues and understate expenses.

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    1. AnonymousJune 1, 2024 at 8:53 AM

      The school district is even worse! The board has done nothing to address it at all this year. Suddenly Travanti says it’s her top priority. BS! Teachers deserve a raise and won’t get one due to their mismanagement.

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  2. AnonymousJune 1, 2024 at 8:52 AM

    Dylan is overrated and in over his head. Maybe all the chicken joints he’s brought in weren’t a good idea after all? Crime is way up, huge deficit, and Myrtle is junky. He has no spine either. Won’t stand up to the establishment folks like Tom or Pawn Shop Rob or Spice Man. Thank god he didn’t become mayor. Time for him to go. Time for all of them to go.

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    1. AnonymousJune 5, 2024 at 6:17 PM

      The City Manager is appointed. By the council. Keep that in mind before you start placing blame. He's doing fine within the constraints of his job.

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  3. AnonymousJune 1, 2024 at 8:55 AM

    Doesn’t Janet Wall our “elected” treasurer go around telling everyone how great she is with budgets and accountability? If that’s true, how did this happen?

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  4. AnonymousJune 1, 2024 at 9:11 AM

    What happened to the bond money to fix the schools?

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  5. AnonymousJune 2, 2024 at 12:09 PM

    Monrovia wastes so much money it is frightening

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  6. AnonymousJune 2, 2024 at 5:22 PM

    I thought Recreation Park was going to get a makeover and that’s why the fencing had been up for 6 months. Took it down this weekend and it’s the same park

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