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Council grapples with $200,000+ shortfall, considers tax rate and reserve withdrawals for capital projects
Summary
At the Aug. 25 budget workshop, councilors discussed a multifaceted shortfall in the FY2025–26 draft budget and options that include modest tax-rate increases, using designated reserves for capital projects and deferring or trimming operating items.
The Hollywood Park City Council spent significant time at the Aug. 25 budget workshop discussing an operating gap in the draft fiscal year 2025–26 budget and how to fund capital needs without jeopardizing reserves.
City Treasurer Fred presented a draft that, depending on line items and contingency choices, produced a general-fund shortfall in the low- to mid‑six figures. Council members reviewed options: keep the property-tax rate at the current rate, adopt the higher “no‑election” maximum rate the city clerk noted (0.47805 per $100 valuation) to avoid a voter referendum, or rely on reserve funds and special revenue to fund…
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