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City May Rescind Water Conservation Requirement; Mostly Positive Financial Reports; Giving Builders More Time

At its next meeting (agenda here)the Monrovia City Council will ...

~ Consider rescinding the requirement that residents cut their water usage by 10 percent, but continue to encourage water conservation. Details

~ Receive a mostly positive report indicating that the city ended the fiscal year ending June 30, 2023 with a general fund balance of $27.14 million, up $3.81 million. The staff report says the results were, "the result of the diligent management of expenditure budgets during the year and strong revenue performance in property tax, Measure K revenues, sales tax revenues, and several other revenues." Challenges, the report says, are "pension and Other Post-Employment Benefit liabilities." Lots more here

~  Receive a Fiscal Year 2023-24 Budget Update and consider budget adjustments. The staff report says that, "similar to the last quarterly update in November, there continues to be a slowdown in sales tax revenues primarily due to a reduction in new vehicle purchases and a reduction in the State and County Pool allocations [I believe these pools are of sales tax on items you buy from out-of-state, for example, from Amazon]. On a positive note, most other revenues are tracking as projected, and inflation levels are still trending lower than historic highs from recent years." Details.

~ Consider amending the municipal code to allow builders extra time "when justifiable cause is demonstrated." Reasons: Supply chains have not fully recovered from COVID; some construction materials are difficult to obtain; the cost of supplies has increased "significantly;" cost of financing has more than doubled in the past few years; and, the labor market is tight. Details

- Brad Haugaard

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