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West Covina council adopts long‑range financial forecast projecting short deficits then a return to surplus
Summary
The City Council approved a long‑range forecast for fiscal years 2026–2030 showing modest surpluses in 2026–27, projected deficits in 2028–29, and an anticipated surplus in 2030 after accounting for one‑time property sale revenue.
The West Covina City Council on Sept. 16 approved the city’s long‑range financial forecast for fiscal years 2026 through 2030 and accepted the finance director’s assumptions and revenue projections.
Finance Director Karen (last name not specified in the meeting record) presented the forecast, saying the city’s general fund — which supports core services including public safety, planning and parks — derives roughly 77% of revenue from property and sales taxes. The presentation used a 10‑year average for property tax growth and HDL Associates’ consultant outlook for sales‑tax growth. The director said the city applied a 3.18% consumer price index assumption for other revenues and used…
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