By Liset Marquez, Inland Valley Daily Bulletin
Posted: 01/28/14, 7:00 PM PST |
UPLAND >> It may be months before key decisions are made on many of the financial issues plaguing the city.
City leaders have agreed to all 47 provisions recommended by the 10-member Fiscal Response Task Force. But Monday night’s approval means staff must first research the feasibility of each of those provisions and then bring it back to the council for review and approval.
“The hard work is yet to come. They still have tough decisions to (make),” said Stephen Dunn, Upland’s city manager. “Some items will come fairly quick to the council and some may take longer. We’ll do the best we can within the year.”
Depending on the decisions by the council, it could result in annual impact to the budget in the range of $3 million to $10 million from a combination of one-time revenues, recurring revenues and savings.
City officials were looking for at least $7 million in savings to the general fund to fight off possible bankruptcy.
“The revenue increases are not designed to provide income but provide liquidity. Liquidity can unlock the finances of this city, our financial situation is frozen,” said Anthony Ghosn, a task force member.
Among the top provisions staff will review includes a recommendation on whether to pursue a ballot measure that would ask voters to approve a half-cent sales tax, which would have a $4 million fiscal impact.
In addition, staff will also research whether it should privatize the management of the water and sewer assets, which could mean millions to the city’s coffers.
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