LIVERMORE -- Livermore city officials will provide council members and the public with an update to the current budget at a workshop on Monday.
City staff will present minor revisions to the council based on actual fiscal performance over the past year, as well as a financial projection for the coming year to give council members an opportunity to make adjustments. The city is midway through its two-year budget cycle.
Livermore Assistant City Manager Troy Brown said while the city took on some new expenses, the local economy has outpaced original assumptions. The city has brought in slightly higher property taxes and sales taxes than anticipated -- a clear indication, he said, of a recovering real estate market and increased economic activity.
"The budget is balanced without the use of reserves for the first time in three years," Brown said. "That's a really big deal."
The workshop takes place at 7 p.m. at City Council Chambers, located at 3575 Pacific Ave in Livermore. During the meeting, the public will be able to comment on the proposed changes. Staff will make any amendments and bring them back to the council on June 10 for adoption.
Contact Jeremy Thomas at 925-847-2184. Follow him at Twitter.com/jet_bang.