Commerce Spending to Rise 4.6% During Next Fiscal Year
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COMMERCE — The City Council approved an $18.68-million 1987-88 budget Monday that includes a 4% raise for city employees and maintains existing municipal services, said John Mitsuuchi, director of finance.
The budget for next year anticipates spending $18.68 million, an increase of 4.6% over this year. The city expects that revenues and spending will be about the same amounts next year. Commerce projects spending $17.86 million during the current fiscal year, which ends June 30. Estimated income for the current year is $18.64 million.
The budget for next year contains a $4.6-million general fund reserve, while this year’s general fund reserve is $5.13 million. Next year’s budget includes a $500,000 reserve to guard against possible declines in revenue from the California Commerce Club, which is expected to pay the city $3.4 million in 1987-1988, said Jim Duron, assistant city manager.
The budget also provides $6,400 for an anti-drug education program for schoolchildren.
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