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City Finances - Pretty Good; Working With Neighboring Cities; Etc.

At its next meeting (agenda: https://shrtm.nu/JdPf) the Monrovia City Council will …

~ Receive a generally positive report on the city’s finances. “Overall, the City is in a solid financial position as we enter the fourth quarter of Fiscal Year 2021-22. While we are beginning to see some cost increases due to growing inflation, most contracts have already been established for the year, so impacts are minimal for this fiscal year. However, inflation and growing costs are a concern as we are developing our upcoming budget for Fiscal Year 2022-23. Additionally, we’re not quite out of the woods yet with respect to the pandemic’s financial impacts, but finances do, in fact, continue to improve over time.” Full report: https://shrtm.nu/LqR2

~ Consider forming an working group with Arcadia, Bradbury, Duarte, and Sierra Madre to establish the Rio Hondo/San Gabriel River Watershed Management Joint Powers Authority. The point of this is to work together to meet federal water runoff purity regulations. https://shrtm.nu/mT5B

~ Also, the city council members will (figuratively) take off their city council hats and put on their  Successor Agency to the Redevelopment Agency hats to consider a measure that could save the city approximately $2,498,538 in interest. https://shrtm.nu/zWXt

~ Finally, the council will hold a study session to consider the city’s “Capital Improvement Program and Overview of Fiscal Year 2022-2023 Fees.” https://shrtm.nu/cpRg

- Brad Haugaard

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