Sandra Emerson, Staff Writer
Posted: 05/20/2013 08:50:18 PM PDT
Updated: 05/20/2013 08:50:25 PM PDT
UPLAND – Members of the city’s Finance and Economic Development Committee were updated Monday on the city’s fiscal situation, which is still uncertain.
City staff presented a mid-year financial update in March, but due to the city’s fiscal condition they gave the committee an additional update.
“I wish I could be here and say yeah, we will be ok,” said City Manager Stephen Dunn.
The budget forecast is based on revenue and expenditure assumptions that could result in $500,000 more or less, Dunn said.
City revenues are projected to be $418,000 less than what was reported in March due to a decrease in sales and other taxes.
Expenditures are projected to be $970,000 less than what was expected in March.
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