Upland seal

By Sandra Emerson, Inland Valley Daily Bulletin
Posted: 10/03/13, 6:29 PM PDT |

UPLAND >> The City Council will soon need to address a new budget shortfall.

The 2013-14 fiscal year budget was balanced, with $943,290 in reserve – the lowest general fund reserve in years, according to City Manager Stephen Dunn’s report.

But as of this week, expenditures are exceeding revenues by $287,000, Dunn said during a Finance and Economic Development Committee meeting Tuesday.

City staff is preparing for the annual visit by the auditors, who will review the city’s finances and issue an opinion in late October or early November.

City employees agreed to concessions earlier this year, saving the city’s general fund about $1 million, and new construction at the Colonies is expected to bring in an additional $750,000 in tax revenue.

But, the city is going to need an additional $2 million to $4 million annually to stay afloat, Dunn said.

“So that means we need to either eliminate services or expenditures to the tune of $4 million or increase revenues by that amount,” he said. Dunn will share possible solutions at an upcoming budget workshop meeting with the City Council and city treasurer.

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