Normally, approving a budget isn’t newsworthy. But Atwater has approved its budget for FY2012 – eight months late.
The budget, which isn’t balanced, is closer to acheiveing a balance than previous iterations of the fiscal plan. With a deficit of $900,000, it is much more balanced than the previous budget that would have contained a $3.6 million deficit – pushing the City’s two-year budget about $7 million negative.
To control the further spiraling, the City achieved savings from compensation reduction, service cuts, and layoffs. The layoffs, which represent about a 35 percent reduction in the work force over the last two years, has provided some of the most significant cost savings for the City.
The FY 2012 budget, according to the staff report, provides a solid fiscal policy for the upcoming year and should help the City restore true balance to its books in FY 2013.