February 07, 2011 4:14 PM
Brooke Edwards

APPLE VALLEY • The town will need to dip a bit further into its reserves to rebalance its budget mid-year, according to a staff report for Tuesday’s special meeting.

The updated budget calls for pulling an extra 30 percent or $89,220 from reserves, for a total draw of $382,381 to balance a general fund budget of roughly $17.5 million.

Apple Valley saw a few revenue sources rise, with code enforcement fees up $250,000 related to foreclosed properties, for example. Sales tax revenues were also up 1.9 percent, though that gain has lagged behind state and county averages.

But the additional general fund draw is needed to cover a $175,000 dip in investment earnings due to low interest rates and charges to replace a failed server to backup data at Town Hall. Another increased cost reflects good news: The town needs to increase contracts for Building and Safety and Engineering to keep up with higher-than-expected activity in those departments, according to the staff report.

To read about items of interest on the agenda, see the full story in Tuesday’s Daily Press. Get complete stories every day with the “exactly as printed” Daily Press E-edition, only $5 per month! Click here to try it free for 7 days. To subscribe to the Daily Press in print or online, call (760) 241-7755, 1-800-553-2006 or click here.