• Monterey restores Sunday library hours

    The Monterey City Council unanimously approved the City’s $105 million budget last night. The budget for the fiscal year that begins July 1st is comprised of a $63 million General Fund budget and the balance in restricted Special Funds.
    The General Fund budget, which funds City operations, is built on a projected 3.9% increase in revenues over the current year. Nearly 55% of General Fund revenue comes from transient occupancy tax (TOT), sales tax and property tax; all of which are projected to grow in the coming fiscal year.
    The Council also unanimously approved funding for Sunday hours at the Library, First Night Monterey, United Way, the YWCA, and Fisherman’s Wharf. The Council also voted to set aside $40,000 to fund yet-to-be-determined programs dealing with the homeless.
    The budget begins to rebuild the City’s Reserve for Economic Uncertainty. Capitol Renewal Reserves for facilities such as the Library, Sports Center, and Conference Center will be drawn down this year to fund infrastructure repairs at the Monterey Sports Center.

    posted to Cedar Street Times on June 27, 2013

    Topics: Front PG News

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