Mission Viejo Budget

State Controller: MV’s 4th Consecutive Deficit

November 7, 2011

On Friday the City Treasurer published the annual Mission Viejo Consolidated Financial Report in compliance with state requirements. The uniform disclosures are filed with the State Controller each year by all cities. City Hall has reported deficits between expenditures and net revenues every year since the Dispatch began publishing in 2007.  For the recent year ending June [...]

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Balanced Budget Broken For Tennis Club

September 6, 2011

   After several years of deficit spending by City Hall, outgoing City Treasurer Irwin Bornstein promised to deliver a new balanced budget before he retired in July.  He did, albeit on arguable revenue projections, but only two months later the City Council is poised to adopt a million-dollar budget-busting amendment.    It’s not for a natural disaster or other emergency. City Hall has [...]

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Letter: Rosey Revenue Forecast Distorts MV Budget

June 15, 2011

 The  City  Council’s public hearing tonight will contemplate a City of Mission Viejo budget for the 2011-12 and 2012-13 fiscal years which reflects a much rosier picture of the economy than one would find in mostly any other source. A steady 1.5-percent revenue increase is projected for the City’s first fiscal year, which begins July [...]

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Where’s The Budget?

May 31, 2011

   The City of Mission Viejo’s new fiscal year starts July 1, but no budget has been proposed yet from City Hall.  The 2-year budget is a complex document requiring significant time and study by council members for due diligence.    The last 2-year budget didn’t pass on time, so the Council had to adopt a [...]

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City Suffers Another Deficit: Auditors Scrutinized

December 29, 2010

   The City operated at a $1.4 million deficit according to its newly released Comprehensive Financial Report for the fiscal year ending June 30. A net decrease in assets was also reflected.    Property tax was the largest revenue source, accounting for 48% of total City revenues. Sales tax was the second largest source at 18% of [...]

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Letter: Millions Out The Back Door

November 1, 2010

If Mayor Trish Kelley and running mates Mayor Pro Tem Dave Leckness and newcomer candidate Rick Sandzimier are elected to the City Council on Tuesday, the urbanization of Mission Viejo will continue full-steam next year when 4,000 trucks loaded with dirt begin rumbling through the city. The dirt will be not be used for infrastructure [...]

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Is City Hall Broken? Deficits

October 7, 2010

   The Mayor states she has been “safeguarding the City budget through the economic storm.” But after her last four years in office, Mission Viejo is entering its fourth consecutive year of deficit spending, with large deficiencies between General Fund revenues and operating expenses. The estimated cumulative gap is $8.9 million including City projections for 2010-2011. Following are the actual numbers for [...]

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City Will Sacrifice Asset Protection To Solve Budget

June 19, 2010

   The City will apparently use asset protection reserves to help solve its current budget problems.  On Monday the Council will discuss a proposal by City Staff to shift more than $1 million out of accounts designated for replacement of aging city assets such as facilities, equipment, vehicles and computers. The interfund transfer is a primary strategy to resolve declines in revenue.  [...]

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Council Cuts Another $500,000 From Budget

April 8, 2010

   The City Council’s original budget cuts of $1.2 million for 2009-2010 proved to be inadequate during the midyear review, so an additional $500,000 reduction was made at Monday’s meeting.  Revenues are less than last year’s estimates, so the City is using spending cuts and reserves to offset the problem. Reserves of all city funds combined [...]

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More Budget Cuts Needed Tonight

March 15, 2010

   After making $1.7 million in cuts to the original budget for this fiscal year, the Council tonight will need to pare another $500,000 to offset revenue deficits and unbudgeted expenditures arising in the first half of the fiscal year.    Staff is recommending cuts to 72 line items. The largest suggested reductions include library temp [...]

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