After weeks of working with City staff, community members and residents, the El Monte City Council unanimously voted to adopt a balanced budget for the 2013-14 fiscal year, meeting the July 1 deadline for the first time in several years.
At its meeting on Tuesday, June 25, the City Council adopted a General Fund operating budget totaling $52.9 million. Council members also adopted an Enterprise Fund budget, which includes water and sewer expenses, totaling $5.8 million. The budget includes a projected surplus of $16,000.
The balanced budget incorporates a minimal increase in General Fund revenues, along with concessions from employee bargaining units and a 9.6 percent reduction in City-wide operation and maintenance expenditures.
As Measure GG sunsets, El Monte is projected to lose $4 million in annual General Fund revenues. The City Council will soon deliberate on bringing a ballot measure to the residents. The City will also have to contend with the salary increases owed to its bargaining units.
