LAKEPORT — The Lakeport City Council Tuesday unanimously approved adoption of the proposed final budget for fiscal year 2010/11, which appropriates $13,588,879 for city expenditures.
The city has been operating on a previously adopted preliminary budget for the first six months of the current fiscal year.
The final budget anticipates that the city”s funds” balance will be $5,850,427 as of June 30, the end of the current fiscal year.
The summary total for city fund balances incorporates all types of city funds, which fall into one of five categories: general fund, special revenue funds, trust and agency funds, enterprise funds and redevelopment agency funds.
The overall fund balance as of June 30, 2010 was $9,309,853 and the final budget anticipates fund revenues will total $10,586,887 during the 2010/11 fiscal year. Measure I expenditures totaling $450,434 will affect the city”s funds” balance and are not included in the $13,588,879 of appropriated expenditures.
The budget anticipates a net income loss of just under $3.5 million for the fiscal year.
City staff developed a 76-page document outlining 2010/11 budget details. The document includes breakdowns of projected financial expenditures for every city department.
General citywide figures included a pie chart showing general fund appropriation. The police will be appropriated 39 percent of available general fund monies. The 24 percent planned for Public Works is the second-highest appropriation total. No other department will be appropriated a double-digit percentage from the general fund.
The city will gain nearly 69.5 percent of its revenue from total taxes. The second most significant source is total charges for services, which will account for nearly 18 percent.
The city”s general “mission, vision and values” were also described. The community vision, according to the budget report, is that “Lakeport will be a vibrant, beautiful, safe, successful, and full service city capable of providing for a population of 10,000 to 20,000 residents.”
The “five areas of emphasis” for city departments this fiscal year are livability, infrastructure, special projects, effective governance and economy.
The budget report described 2009/10 fiscal year accomplishments for city departments and staff, as well as goals for each group this fiscal year.
The council heard that the entire 76-page budget report will be available on the city”s website by the end of the week.
The council, sitting also as board of directors for the Lakeport Redevelopment Agency and the Lakeport Municipal Sewer District, voted 5-0 to adopt the 2010/11 fiscal year budget.
Contact Jeremy Walsh at jwalsh@record-bee.com or call him at 263-5636, ext. 37.
