In June, the City Council adopted a $252.5 million budget for Carlsbad's 2008-09 fiscal year.
The city's operating budget for services is $195.1 million, an increase of $8 million from the budget adopted for fiscal year 2007-08. The capital improvement program, or CIP, budget for major city building projects totals $57.4 million.
In this time of economic uncertainty, the council and city staff remain committed to sound fiscal planning. While the 2008-09 budget does not introduce new programs or expanded levels of service, the city will continue its current maintenance and operation of Carlsbad's infrastructure.
“The uncertain economy of the state and region has been considered in the development of the city's fiscally conservative budget,” said City Finance Director Lisa Irvine. “Through the City Council and city staff's sound fiscal planning, residents will receive the same top-quality services that they are accustomed to.”
Current CIP projects include Alga Norte Park and Aquatic Center and the Joint First Responders Training Facility for public safety services. New projects, planned for the next five years, include expanding the event area at Leo Carrillo Ranch and widening El Camino Real between Tamarack and Chestnut avenues from two lanes to four.
The CIP includes approximately 61 existing and 143 future projects that are scheduled from now through 2022.
Operating revenues total $199.2 million and capital revenues total $41.1 million, equaling $240.3 million. The city's General Fund revenues for 2008-09 are estimated at $120.7 million.
The revenues are 0.4 percent higher than current year projections, with most of the increase coming from tax revenues. General Fund revenues allow the city to provide public safety, public works, special events, recreation, arts and library services for residents.
The city's revenue projections reflect a slow down in the economy, mostly driven by the real estate and construction-related industries. New building permits are anticipated to continue to decline as housing developments slow due to the softening of the real estate market, as well as Carlsbad approaching build-out.
Carlsbad's 10-year financial forecast, while balanced, reflects less projected surpluses than in previous years. The city will monitor its revenues and expenditures closely to ensure Carlsbad lives within its means through the current turbulent and uncertain economic times.
For more information, visit www.carlsbadca.gov.
The city's operating budget for services is $195.1 million, an increase of $8 million from the budget adopted for fiscal year 2007-08. The capital improvement program, or CIP, budget for major city building projects totals $57.4 million.
In this time of economic uncertainty, the council and city staff remain committed to sound fiscal planning. While the 2008-09 budget does not introduce new programs or expanded levels of service, the city will continue its current maintenance and operation of Carlsbad's infrastructure.
“The uncertain economy of the state and region has been considered in the development of the city's fiscally conservative budget,” said City Finance Director Lisa Irvine. “Through the City Council and city staff's sound fiscal planning, residents will receive the same top-quality services that they are accustomed to.”
Current CIP projects include Alga Norte Park and Aquatic Center and the Joint First Responders Training Facility for public safety services. New projects, planned for the next five years, include expanding the event area at Leo Carrillo Ranch and widening El Camino Real between Tamarack and Chestnut avenues from two lanes to four.
The CIP includes approximately 61 existing and 143 future projects that are scheduled from now through 2022.
Operating revenues total $199.2 million and capital revenues total $41.1 million, equaling $240.3 million. The city's General Fund revenues for 2008-09 are estimated at $120.7 million.
The revenues are 0.4 percent higher than current year projections, with most of the increase coming from tax revenues. General Fund revenues allow the city to provide public safety, public works, special events, recreation, arts and library services for residents.
The city's revenue projections reflect a slow down in the economy, mostly driven by the real estate and construction-related industries. New building permits are anticipated to continue to decline as housing developments slow due to the softening of the real estate market, as well as Carlsbad approaching build-out.
Carlsbad's 10-year financial forecast, while balanced, reflects less projected surpluses than in previous years. The city will monitor its revenues and expenditures closely to ensure Carlsbad lives within its means through the current turbulent and uncertain economic times.
For more information, visit www.carlsbadca.gov.