HomeMy WebLinkAboutPH 1 & 2 REV SHARING 09-19-83AGEmD,
DATE: .September 14, 1985
PUBLIC HEARING
NO. 1&2
9-19-83
Inter-Corn
TO:
FROM:
SUBd ECT:
HONORABLE MAYOR AND CITY COUNCIL-
BILL HUSTON, CITY MANAGER
PUBLIC HEARINGS ON 1985/84 BUDG~TAND PROPOSED USE OF
R~V~NU~ SHARING FUNDS
R~ COfFiN DATI ON
It is recommended that the hearings be continued to the City Council meeting
of October 5, 1983.
DISCUSSION
/As of this date, the State Senate and.Assembly are scheduled to vote on a Bill
~-that would repeal the AB-8 Deflator which means the City would not lose State
subvention funds in fiscal year 1983/84. It would Iose, however, the $445,000
in bail-out funds which staff assumed would be lost when the draft budget was
prepared last sprin'g.
The continuance is recommended in order for the City to know exactly what the
State will be doing with regard to State subventions and to also revise projected
General Fund revenue to reflect updated estimates.
BH:dmt