ROCKLIN – Expecting a slow economic recovery, city officials have sliced away at the 2008-09 budget, freezing vacant positions and cutting expenses.
On Monday, staff members presented the City Council with proposed amendments to the $61.3 million spending plan approved last year as part of a two-year budget.
Chief Financial Officer Kim Sarkovich said community development revenue was projected to take a $1.8 million hit this year. In addition, property taxes are projected to drop by $326,000, while sales tax revenue is expected to fall by $889,000.
Although the approved budget reflected a slowdown in construction and consumer spending, officials had not anticipated such a dramatic, broad economic decline.
The council probably will consider the proposed amendments at its Aug. 12 meeting.
– Jennifer K. Morita
