Draft 2017-18 Financial Plan and Budget

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Draft 2017-18 Financial Plan and Budget

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The City of Coronado's draft Financial Plan and Budget for Fiscal Year 2017-18 has been released and is available online.

The budget anticipates “All Fund” expenditures of $87 million over the 12-month budget period, which begins July 1.

The General Fund, which is the City’s discretionary and largest fund, anticipates $53.59 million in revenues and $53.18 million in expenditures with an end of the year surplus of $411,500.

All city services are proposed to be fully funded with a specific emphasis on long term financial stability. 

The budget provides for an elective additional contribution of $1.2 million toward future pension costs; $1.5 million toward future major facilities replacement; and $1.2 million toward future vehicle replacement. 

Major Capital Improvements proposed include irrigation and turf replacement at Sunset Park and a perimeter sidewalk along its south side; ongoing street preventative maintenance; and major repair of Bridgetown Bend and Port Royale in the Cays.

The budget provides $200,000 in seed money to begin to explore the citywide undergrounding of overhead utilities.

The City Council has scheduled a budget workshop for Tuesday, May 9, at 3 p.m.

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Posted on 05/05/2017
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