Oxnard--The City of Oxnard’s 2024-2025 Budget preview continues with the effects of the Aaron Starr bonding litigation.
THE City of Oxnard proposes a 2024-2025 general fund revenue budget of $235.7 million, with expenses by department totaling $255.7 million.
The revenue shows a five percent increase over the fiscal year 2023-2024, with 6.5 percent of the revenue related to interest income due to high interest rates and other reimbursements.
The City proposes a $20 million payment for long-term pensions and liabilities.
Assistant City Manager Ashley Golden presented the preview and said that under normal circumstances, they would use cash for everyday normal operations, such as public safety, seniors, and recreation services, but bond for multi-generational projects.
“That’s exactly what we had to do for our computer program, known as the ERP (Enterprise Resource Planning), basically the brain behind all the computing we do here at the City, as well as major infrastructure needs related to our streets,” she said. “The Starr litigation holds up the needed financing, which was approved for $45 million in bonds.”
She said the City can’t let the streets, Oxnard’s largest asset, deteriorate further, so they recommended cash in the current and upcoming budget.
“If we…
