[Editor’s Note: A previous version of this story said that Long Beach’s coffers are in good shape, this has been corrected to reflect that Malibu’s coffers are in good shape.]
Excluding the money it received through the issuance of bond-like certificates of participation to pay for the new City Hall, the city received $21.5 million in revenue for the 2009-10 fiscal year and spent $19.5 million. Tax revenue and money earned through city services exceeded Feldman’s original projections.
It’s important to never become too complacent after a job well done. In Malibu, the Assistant City Manager’s presentation to the City Council highlighted that the coffers were fairly well stocked.
The city brought in more in revenues than it spent last year. But she also warned that prudent decisions and careful revisions were necessary to keep the trend going.
From the Malibu Times:
While presenting a financial report on the past fiscal year that concluded June 30, Assistant City Manager Reva Feldman told the City Council that Malibu is in better shape than many other cities. But she warned that the city should revise some of its budget policies to make sure the positive situation continues.
Excluding the money it received through the issuance of bond-like certificates of participation to pay for the new City Hall, the city received $21.5 million in revenue for the 2009-10 fiscal year and spent $19.5 million. Tax revenue and money earned through city services exceeded Feldman’s original projections.
Read the full article here.