San Diego skyline (Flickr: Tostie14)
Revenues coming into the city of San Diego are running above projections through the first six months of the fiscal year, which should result in officials having an extra $3.6 million to spend, according to a report scheduled to be presented to a City Council committee today.
The “Fiscal Year 2013 Mid-Year Budget Monitoring Report,” which will be presented to the City Council’s Budget Committee, found that the city is on pace to spend $7.7 million more than expected through June 30, but will earn $13.2 million more than what was planned.
The major contributors of the extra municipal income are property taxes — $14.6 million more than anticipated thanks, in part, to the dissolution of redevelopment agencies — and $1.9 million extra dollars from hotel room taxes.
However, sales taxes, franchise fees and some other revenue sources are below what was budgeted.
Once certain accounting adjustments are made, about $3.6 million should be available for spending this fiscal year, according to the report.
Among the recommendations for using the surplus:
– $1.1 million for replacing police equipment like gas masks, body armor, shields and shotguns;
– $500,000 to the fire department to replace a cliff rescue vehicle;
– $500,000 for a traffic management plan for Balboa Park;
– $400,000 to install two long-awaited public restrooms in the East Village;
– $300,000 to support the the Balboa Park centennial celebration;
– $300,000 to extend the city’s emergency homeless shelter through June; and
– $200,000 for maintenance at Mission Trails Regional Park.
Another $300,000 would remain unbudgeted for the time being, and will be added to the beginning balance of the next fiscal year if it’s not used.
The city is facing a shortfall of up to about $40 million for the fiscal year that begins July 1 due to adverse rulings on the end of redevelopment and a higher than expected required contribution to its employee pension fund.
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