The Signal Hill City Council approved a nearly $35 million budget for Fiscal Year 2024-2025 on Tuesday, June 11.
“The overall goal is to adopt a structurally balanced budget that serves as the city’s financial plan, control city appropriations to pay for city services and activities, and reflect the city council’s priorities and strategies,” said Deputy Finance Director Siamlu Cox during the presentation to city council.
The budget lays out how the City will spend its money during a fiscal year, and what funding sources it will draw from.
“The budget represents a cautious, optimistic perspective while remaining vigilant of existing challenges,” Cox said.
Per usual, the largest portion of the budget was allocated to the Signal Hill Police Department. Of the City’s $34.9 million budget, $13.9 million was earmarked for the police department.
The amounts set aside for other expenditures are as follows:
- Legislative & Administration – $4.3 million
- Community Development – $1.3 million
- Parks, Recreation & Library Services – $3.1 million
- Finance, IT and Non-department – $5.1 million
- Public Works – $6.9 million
The previous budget for Fiscal Year 2023-2024 was $34.6 million, with this year’s total budget increasing by over $300,000. In Fiscal Year 2023-2024, the amount allocated for the police department was approximately $13 million, with that amount increasing by over $900,000 for this year.
During the budget presentation to city council, city staff said that the City plans to bring in $37.8 million in revenue, with the vast majority of it ($27 million) coming from sales tax.
As part of its biennial budget planning process, the City Council adopted a budget for fiscal year 2024-2025 while simultaneously approving a prospective budget for Fiscal Year 2025-2026. The proposed Fiscal Year 2025-2026 budget will return to the City Council for discussion and adjustments next June.
Proposed expenditures for Fiscal Year 2025-2026 are as follows:
- Police – $14.6 million
- Legislative & Administration – $4.1 million
- Community Development – $1.4 million
- Parks, Recreation & Library Services – $3.1 million
- Finance, IT and Non-department – $5 million
- Public Works – $7 million
The City plans to have $69 million in the General Fund at the start of the new fiscal year on July 1, and to end the fiscal year on June 30, 2025 with $67.1 million. In turn, the City plans to start Fiscal Year 2025-2026 with $67.1 million in the General Fund, and end it with $65.1 million.
“Each year we seem to get better and better, and that should always be our goal in everything we do, doesn’t matter if it’s in finance or whatever. We should always be striving to get better and I think we’re doing that,” Councilmember Edward Wilson said after the presentation.
