Following an annual process of evaluating the city’s fiscal health, community priorities, infrastructure needs, and daily operations, the Folsom City Council unanimously approved a $209 million balanced budget for Fiscal Year 2019-20 that takes effect July 1. The budget represents a $3.3 million increase over last year’s adopted budget, and reflects steady growth in the economy and an increase in the city’s major revenue sources.
The city is projected to finished Fiscal Year 2018-19 with a surplus, marking the eighth consecutive year of adding significant savings to a rainy day fund. This budget preserves and enhances the fundamental priorities of the community and maintains a sustainable budget that addresses the city’s priority programmatic needs. The budget includes an operating budget for day-to-day city programs and services and a capital improvement program which funds public construction projects and infrastructure. The spending plan includes: