Council Keeps Eye on State Lawmakers as Budget Issues Threaten to Trickle Down
By admin
Published: Thursday, June 18th, 2009
Sierra Madre City Councilman John Buchanan briefly discussed the effects of the latest proposed state budget on Sierra Madre at the Sierra Madre City Council Meeting on Tuesday, June 9, 2009. Buchanan was dubious about what the state’s actual final budget might actually look like and how it will affect the states counties and municipalities, saying, “Like any of us can really tell.”
Currently, an 8% takeaway of property tax is proposed. This reduction of property tax, the leading contributor of revenue to the city’s general fund, will have a strong negative impact the city’s budget. Additionally, the governor’s office recently proposed a three-quarters reduction of the gas tax. This gas tax is to the per gallon tax, not the sales tax. The amount from this reduction, which is effectively a seizure of funds traditionally earmarked for municipalities to fill the worsening state budget gap, would add up to $750 million. That translates to around a $250,000 potential loss for Sierra Madre’s general fund.
More information on the state budget to come as we track the latest developments in print and on our website, www.sierramadreweekly.com.
3 Responses for “Council Keeps Eye on State Lawmakers as Budget Issues Threaten to Trickle Down”
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You’re not the same guy responsible for the “City manager: Sierra Madre Has No Surplus” headline, are you?
That caused quite an uproar at City Hall today.
Man are you guys out of date. Schwarzenneger backed down on this threat a week ago. There is a paper called the LA Times. You really ought to check it out. Has some interesting information in it.
Buchanan is keeping any eye on Sacramento? Phaw!
Mikey,
I spoke with City Manager Elaine Aguilar just this morning about this very issue. I didn’t catch the LA Times piece regarding Sierra Madre’s budget, but I was told by Ms. Aguilar that the threat is still quite alive and kicking.
Depending on what the guys in Sacramento decide, if they can decide anything at all, it looks like the state will be taking $300K from the city. In fact, that number has already been factored into the proposed FY budget, to be voted on at tomorrow night’s meeting.
Thanks for the comment.
-John Stephens, Editor