Oxnard-- The Finance & Governance Committee, Tuesday, February 22, received the city’s midyear budget review.
Chief Financial Officer Betsy George reviewed the report with the committee and recommended the city council approve $1 million for the Public Liability Fund and an additional $162,947 for the Workers’ Compensation Fund.
“Additionally, we’re recommending that the City Council adopt a resolution approving amendments to the position control, classification, and salary resolutions,” she said.
The budget for the City of Oxnard’s estimated revenues for the general fund was $199 million. The revised estimates for the fund are up by $2.7 million for a total estimated revenue of $202 million.
“The significant changes to our revenue estimates are in sales tax,” she said. “Both Measure E and the one percent Bradley Burns Tax, and those two together represent a $4.9 million estimated increase in revenue projections. That’s primarily related to much stronger sales occurring in the city than originally projected. We’ve had two strong quarters in the first half of the fiscal year, so our quarter-ending in September and the quarter ending in December both were higher than anticipated, so we’ve increased the estimates for the remainder of the year, as well.”
She said property…
