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Atherton approves 2019-20 budget

 

The Atherton City Council voted 5-0 to approve the town's 2019-20 fiscal year budget at its June 19 meeting, and it looks as if the town will maintain a comfortable budget surplus.

A report from town staff shows the budget for the fiscal year that begins July 1 with $16.5 million in revenue, 71% of which is coming from property taxes ($11.8 million). Spending is estimated to be at $14.6 million.

There is a single-year operational revenue surplus of $1.9 million. The budget projections show the town ending the coming fiscal year with $24.15 million.

The new civic center project is the biggest cost to the town in the coming year, costing $11.2 million. Funding sources for the new complex became an area of focus during the meeting. When the project is completed, estimated to be in 2021, a public courtyard will connect a new mission-style building housing police offices, town administration, building and planning offices, and a council chamber/emergency operations center to the new library.

The proposed budget can be viewed here.

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