The Beach Reporter
by Paul Silva
(Updated: Thursday, May 31, 2012 5:24 PM PDT)
The proposed Redondo Beach city budget for the next fiscal year leaves a general fund balance of just $98,583 after all expenditures, a far cry from the millions in discretionary dollars available less than a decade ago.
In presenting the 2012-13 budget to City Council Tuesday night, City Manager Bill Workman purposely avoiding calling the money a surplus, saying, “That’s an amount of money that could disappear with one fish kill in the harbor.”
Workman said the city was in better shape than many others in the state, but it still faced a sluggish economy, uncertainty over the state’s $16 billion budget deficit, unfunded mandates and financial pressures created by the increasing costs of the California Public Employees Retirement System (CalPERS). City staff members have already taken pay cuts and approved reduced retirement benefits for new employees. The city has also cut staffing, with the proposed budget covering 432 authorized positions, down from 496 five years ago.
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