The budget projects revenues of $5,350,000, up by $152,000 (3 percent) over the amended budget for the current fiscal year. Fifty-two percent of those revenues would come from property taxes, which are projected at $2,675,000 for the fiscal year, an increase of 4 percent over this year.
With anticipated expenses of $5,187,583, an increase of $310,359 (6.4 percent), the town projects a reserve of $2,013,433, the proposed budget says.
Other items in the budget of note: a new truck for the Public Works Department ($60,000); a window on the second floor of Town Hall that will open to allow air circulation inside and escape in case of emergency ($15,000); and digital conversion of historical paper documents ($21,400).
The library is expected to get new carpeting and the drinking fountain there will be fitted with a water-bottle filling station ($29,000). The budget's outlook for fiscal year 2020-21 includes $36,000 to equip other drinking fountains with water-bottle fillers.
This budget also kicks off a five-year, $6.3 million capital improvement plan, with 62 percent ($3.9 million) going to road rehabilitation and related programs. The other major expense totals about $1 million over five years for maintenance of the buildings at Town Center, now in their 10th year of existence.
The Portola Valley council reviewed the proposed budget on June 13 and is expected to approve the final version on June 27.
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