Danville Mid-Year Budget: Right On Track
Budget Review Reveals Good Budget News
As we are partially through the 2014-2015 fiscal year, you may be reviewing your own mid-year budgets to make sure that you are on track with your income and spending. In a similar way, the Danville Town Council held a meeting in the middle of February to go over the budget as of mid-year.
Happily, the news is all good. The financial health of the town is in great shape, and revenues are trending ahead of budget. That favorable trend is partly due to property tax receipts which are expected to exceed previously forecasted figures. Franchise fees, sales taxes, special revenues, and other revenue sources are on track to meet projected benchmarks.
Furthermore, the town’s expenditures are expected to hit below anticipated levels. Right now, projections indicate that the town’s overall expenses will come in at or below the $28 million budgeted for the 2014-2015 year.
In light of all of this positive information, Town Manager Joe Calabrigo is encouraging the approval of $150,000 in additional appropriations for this year’s budget. $75,000 of that amount would be used to repair the damage along Front Street that was caused by the San Ramon Creek landslide that occurred in December. The other half would be designated towards a feasibility study to determine if Danville could be best served by utilizing a plot of town-owned property on Rose Street as a downtown parking structure.
Ultimately, the mid-year budget review revealed that Danville’s financial health is solid for the 2014-2015 year and the city will continue to flourish.
Whether you already live in this prosperous town, and are planning to sell your home, or are hoping to relocate here, Danville is an ideal place to live. Contact the Zwahlen Team, your trusted San Ramon Valley Realtors, to assist you in all your real estate needs in Danville and the surrounding communities.