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City Council Receives Mid Year Budget Update

Posted by on Mar 17th, 2016 and filed under News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

City Manager Mark Alexander delivered the mid-year budget update to the LCF City Council in a study session on March 1 before the regularly scheduled city council meeting. City staff reported that revenues are higher than expected, prompting the council to approve additional projects for the 2015-16 fiscal year.

City revenues are currently $143,275 above budgeted expectations.

“With this increase in revenue, the City Council is now in a position to approve additional expenditures for the 2015-16 budget cycle,” said Alexander.

As a result of this news, the City Council approved the following additional expenditures:

• Hiring of a part-time contract technician ($30,000)

• Hiring of a consultant to advise on a zoning update along Foothill Boulevard ($35,000)

• Installation of an electric vehicle charging station at the Park and Ride lot across from Memorial Park

• Donation for a student to attend the annual Sister City Conference in Washington, D.C. ($1,000)

• Donation to La Cañada High School to help purchase and install bleachers for the varsity baseball field ($5,000)

• Installation of electrical boxes underground at Memorial Park, increasing safety on the dance floor at Music-in-the-Park concerts

Also discussed at this meeting was allocation of a $460,000 bequest from the Ralph N. Lipscomb Trust. Lipscomb, a long-time resident of the city, was very fond of the community. Before his passing in March 2015, he allocated money to fund public works projects that enhance safety.

The City Council voted to spend $60,000 of the bequest on a gazebo at Olberz Park, which will be dedicated to Lipscomb. The remaining funds will be spent on street resurfacing, median improvements, and sidewalk installation at two streets in the city.

“The results of this special meeting reminds me what an extraordinary community we live in,” said Mayor David Spence. “Not only are we able to invest in our community because of the fiscally responsible management at city hall, but we are celebrating the generosity of our community by investing funds left to the city by a beloved, long-time resident.”

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