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La Verne staff outline preliminary FY2024–25 budget and $11.5 million CIP request
Summary
City staff presented a preliminary FY2024–25 operating budget and a five‑year capital improvement program at the May 6 study session, highlighting constrained revenue growth, a drop in transfers tied to asset‑forfeiture policy changes, and personnel requests to fill critical vacancies. Council directed staff to continue public outreach ahead of a June adoption timeline.
City staff on Monday presented a preliminary overview of the city—udget for fiscal year 2024–25 and a five‑year capital improvement program, asking the City Council and the public for direction ahead of a June adoption cycle.
Finance and budget staff said the general fund remains the city—alendar—or core services and is funded primarily by property and sales taxes. Staff projected modest revenue growth next year: property tax receipts are forecast to grow about 3% while sales tax is expected to rise slightly more than 2%, both below historical averages, and overall revenues are sensitive to housing and statewide reporting corrections.
Staff noted a material reduction in interfund transfers driven by…
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