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ti SSo� <br />BUDGET OVERVIEW <br />BUDGET HIGHLIGHTS: <br />♦ The 1999 -2000 Proposed Budget projects a substantially improved revenue base. <br />♦ Total City revenues are projected at $109.5 million, up $2.5 million over revised projections <br />for 1998 -1999, primarily due to increases in Property and Sales taxes.. <br />♦ Total City expenditures, including capital projects, are approximately $112 million, a decline <br />of $9 million over 1998 -1999, due to the completion of major capital improvements <br />including MacArthur Blvd. and the Arches Interchange. <br />♦ Operating expenditures are nearly the same for both fiscal years, primarily due to a <br />significant decline in the City's portion of the retirement rate. <br />♦ Budgeted capital projects are increasing $2.7 million. <br />♦ Four new positions are being recommended in the proposed budget: <br />Senior Planner (Planning Department) <br />Equipment Operator II (General Services Department) <br />Maintenance Worker 11 (General Services Department) <br />Department Assistant (Community Services Department) <br />♦ In addition to the 4 new positions, a number of part time hours have increased in various <br />departments. <br />♦ The General Fund Contingency and Stabilization Reserves, as required by Council Policy F- <br />3, are fully funded for the first time in many years. <br />♦ Property tax up by 4.3 %, Sales tax up by 3.3% - both of these figures seem conservative. <br />♦ A number of important capital projects are recommended for funding including: <br />$400,000 for specific storm drain system improvements <br />$400,000 for construction of slope stabilization and drainage, and erosion control <br />improvements of Dahlia Ave. -- <br />$500,000 for pedestrian walkways to the Balboa Island Bridge. <br />$320,000 to continue planned Street Light replacement. <br />Continued funding for Police Strategic Information System, 800 MHz Radio System, <br />Document Imaging, and the Permits System <br />,: <br />