Happy New Year! The City of South Lake Tahoe City Council adopted the Municipal Operating and Capital Improvement Budget for Fiscal Year 2014-2015 during the special council meeting today. The budget passed unanimously and includes $600k in capital reinvestment into a bike park, Regan Beach improvements, and recreation.
As stated in the City Managers Budget message, “As presented, the Fiscal Year 2014-2015 proposed budget has been balanced for the second straight year utilizing general fund expected revenues and expenses, without the use of fund balances or transfers in from other fund sources. The budget was prepared funding essential core services and an overall conservative approach to revenues and expenditures. Amendments to the FY 2014-2015 budget are expected as changes to wages and benefits are implemented resulting from employee agreements for both represented and unrepresented employees. The wage and benefit changes over the next three years and future years are projected to be cost-neutral to the City's General Fund and create long-term savings for the taxpayers for many years to come as described in the City Manager's Budget Message.”
The complete agenda and attachments can be viewed online.