City Adopts New Budget
City departments are now operating under a lean $66.5 million Fiscal Year 2010-11 General Fund budget recently adopted by the City Council.
The new budget derives savings from a reorganization of seven City departments and the consolidation of key services such as engineering and maintenance. The budget also reflects savings generated through the elimination of staff positions and continued employee furloughs and deferrals of cost-of-living and merit increases.
“We will continue discussions with our bargaining units to identify additional savings to offset declining revenues,” said City Manager Kerry Miller. “Our goal is long-term sustainability and continued delivery of the services that contribute to Folsom’s outstanding quality of life.”
Miller notes that Folsom is maintaining property values, bond ratings are high and the unemployment rate is the lowest in the region. “We expect to see a modest growth in revenues this year. We are aggressively pursuing economic development opportunities and feel optimistic about our City’s future.”
Click here to view the FY 2010-11 budget documents.