MISSION VIEJO The Mission Viejo City Council adopted a $66.8 million budget for the 2017-18 fiscal year with projections for a $67.1 budget in 2018-19 at Tuesday night’s regular meeting.
The projected budgets for both years are balanced, with goals to maintain community core service and programs at current levels, as well as continuing funding for economic development, monitoring unfunded liabilities and completing capital projects that include park playgrounds, Felipe Recreation Center, Marguerite Aquatics Complex and slope rehabilitation.
Mission Viejo prepares a budget every two years. The unanimous vote by the city council was for adoption of the 2017-18 budget and the city may reassess and make changes to the budget for 2018-19 if necessary.
The General Fund will have a beginning balance of $27.7 million and revenues are projected at $57.7 million for the 2017-18 fiscal year. Expenditures are projected at $57.8 million with an additional $547,000 going toward Capital Improvement Projects. Transfers of $1.1 million into the General Fund will result in a small surplus of $448,760 and an ending balance of $28.1 million.
However, across all funds, the city is looking at a surplus of $4.7 million, with revenues at $71.5 million and expenditures at $66.8 million.
“We passed our budget and…we passed signing our contract with the sheriff’s department and it’s really exciting when you can do that and know that you can afford to pay for all the programs and activities that we’re able to pay for,” Mayor Pro Tem Ed Sachs said. “This current budget period for two years…things are looking to be in pretty good shape.”
Of all revenues – approximately 69 percent or $50.7 million – will come from property and sales tax, while public safety and infrastructure maintenance will account for about 55 percent of the overall expenditures.
Public safety remains the largest expenditure on the city’s budget for the upcoming year, with Mission Viejo paying…