Tag: Budget

MALIBU—The city of Malibu indicated on Friday, October 25 that the adopted budget for Fiscal Year 2024-25 is balanced, reflecting both its commitment to responsible fiscal management and efforts to improve customer service, processes, and transparency.

According to a news release from the city’s website, the budget reflects the city’s goal to maintaining a strong financial foundation. Malibu’s “excellent financial status enables the City to provide essential services, protect Malibu’s safety and environment, and maintain reserves to handle disasters and economic downturns,” said the city in a statement.

The General Fund is projected to end the fiscal year with $69.45 million, representing 115.3 percent of the budgeted expenditures—well above Malibu’s goal of maintaining reserves at 50 percent of expenditures. Malibu’s major revenue sources—Property Taxes, Transient Occupancy Tax (TOT), and Sales and Use Tax—are budgeted for modest growth. Property Taxes are expected to rise by 5.5 percent to $19.5 million, while TOT from hotels, motels, and private rentals remains steady at $9.5 million. Sales and Use Tax revenue is set to grow by $500,000 over the previous year, totaling $8.9 million.

Key highlights of the budget include a $1.3 million allocation for enhanced traffic enforcement on Pacific Coast Highway (PCH) and $200,000 for speed cameras to address safety concerns. The Environmental Sustainability Department will receive an additional $667,000, including $500,000 for the new Exterior Elevated Elements (E3) program. Significant funds are also earmarked for ongoing Woolsey Fire rebuild efforts and storm damage repairs, which are partially reimbursable by FEMA and other agencies.

Malibu is taking steps to improve efficiency and transparency by restructuring the Environmental Sustainability and Planning Departments. A new Director of Community Development position will oversee such changes, which aim to improve customer service and reduce caseloads. The budget includes $2.5 million for the development of a permanent skatepark, a priority project for the community.

To view the FY 2024-25 budget, visit: www.MalibuCity.org/Budget.  Individuals can watch the Malibu City Council’s budget presentation from June 24, 2024, at: youtube.com/live/RNc1A-2HZCo?si=IHZh6HVDlKp7AUsI&t=6726&fbclid=IwY2xjawGMYtxleHRuA2FlbQIxMAABHeDiU47_DAaSKptILn8g9VWlp7c0rbw-BBEFz8w2QDwKT33lAT8Od8OWAA_aem_6Z7jGgWt-WP4oY1tB7y7PA.

By Trevor

WEST HOLLYWOOD—Members of the West Hollywood community are invited to learn about the city’s budget priorities for Fiscal Year 2023-24 at an upcoming in-person public meeting with the West Hollywood City Council Finance & Budget Subcommittee.

The city reported in a news release that the Finance & Budget Subcommittee meeting will take place in-person on Thursday, April 20 at 6:30 p.m. at West Hollywood City Hall in the Community Conference Room (First Floor), located at 8300 Santa Monica Boulevard. The meeting is free and open to the public and public comment is welcome. The meeting agenda and staff report can be found at www.weho.org/councilagendas under the “Finance & Budget Subcommittee Meetings” section. Follow the instructions on the first page of the meeting agenda for public comment.

The Finance & Budget Subcommittee, comprising of West Hollywood’s Mayor and Mayor Pro Tempore, provides input on the city budget before its adoption by the full West Hollywood City Council. The Subcommittee will discuss funding priorities for the second-year update (Fiscal Year 2023-24) of the two-year budget. The subcommittee may provide direction on matters relating to capital improvements, homelessness, public safety, and other budget topics that span multiple years.

West Hollywood’s current year annual operating Budget and Capital Work Plan is available online in an interactive format at by clicking the “Approved FY2022-2024 Budget and Updated Capital Work Plan” link at: www.weho.org/budget. The online budget provides accessible information about budgeted city revenues and expenditures in a user-friendly format.

For more details about the Finance & Budget Subcommittee meeting, contact Christine Safriet, West Hollywood Assistant to the City Manager, at (323) 848-6467 or at csafriet@weho.org. For people who are Deaf or hard of hearing call TTY (323) 848-6496.