Notice is hereby given that a proposed 2016 budget have been submitted to the Salida City Council for consideration during the October 6th regular council meeting. A hard copy is available for public inspection at City Hall, located in the Touber Building at 448 E. 1st Street, Suite 112 in Salida. The draft budget documents and work session materials are available on the city’s website under the Financial Documents section of the Document Library.
The proposed budget presentation this year was unique in that two versions were prepared. One version assumed pending local legislation would become effective and provide a larger amount of unrestricted revenue in the general fund (the “Ordinance 2015-16” version). The second version assumed that Ordinance 2015-16 would be repealed as a result of a referendum that was being circulated. The following day, that referendum was submitted to the City Clerk and, therefore, Ordinance 2015-16 will not become effective. Under the “Referendum” version of the budget, the amount of operating costs exceeds the amount of unrestricted revenue available to fund current operations while a greater amount of restricted capital revenue exists than needed for planned capital spending in the 2016 budget.
The City Council will consider where to make cuts or how to generate additional revenue for operations. The two versions have the same amount of total revenue. The difference is how large a percentage of that revenue can be used only for capital spending and how capital spending is defined for budget purposes. In the “Referendum” version, staff reduced operating expenditures by nearly one half million; however, an operating deficient remains of approximately one-quarter million. Additional revenue sources or operating expenditure cuts will need to be identified to re-balance the operating budget.
The proposed budget will be discussed during a council work session at 6:00 PM on October 19th. Please see the work session packet for additional information and an updated version of the proposed budget.
The proposed 2016 budget will be considered for adoption at a public hearing held at the regular city council meeting scheduled for December 1st at council chambers at 7:00 PM.
Any interested person of the City of Salida may inspect the proposed budget and file or register any objections at City Hall at any time prior to the final adoption of the budget. Depending upon the outcome of budget work sessions, the final adoption will be scheduled on December 1, 2015 or on December 15, 2015 during the regular city council meeting.