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Sierra Madre projects $1.4M operating deficit; ad hoc revenue committee formed to recommend sustainable funding
Summary
Mayor Robert Parkhurst said the city faces a projected operating deficit of $1,400,000 this year and an ongoing shortfall of about $800,000 over the next four years, and has formed an ad hoc revenue committee chaired by Planning Commission Chair Tom Dennison with former treasurer Mike Amario to identify sustainable revenue options.
Mayor Robert Parkhurst told attendees that Sierra Madre is projected to run an operating deficit of about $1,400,000 this year and that the city faces an approximately $800,000 annual shortfall over the next four years unless new revenue sources are found. He said the…
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