06-23-2020 - PowerPoint Budget PresentationADOPTION OF CITY OF WEST COVINA FISCAL YEAR 2020-21
ANNUAL OPERATING AND CAPITAL IMPROVEMENT
PROGRAM BUDGET
J U N E 23, 2020
Me
State and County Orders caused
unprecedented business shutdown
— causing major income issues
Budget projections based on Status
Quo Budget
No layoffs
Hiring freeze instituted
Elimination of conferences &
meetings
During fiscal emergency
revenues difficult to predict —
monitored and continuously
reported to City Council
One of 4 full service cities in LA
County without supplemental
dedicated revenue source for
public safety
Budget will reflect cuts in every
category
Reduction in number of authorized sworn
police officers — from 99 to 90
Employees asked to voluntarily suspend
10% benefits
Major reduction in Fire Department
Overtime
Deeper cuts may be necessary
City Council Approve Resolution
2020-64 Adopting the Operating
and Capital Improvement
Program Budget for Fiscal Year
2020-21
QUESTIONS
OUTLINE
Community Outreach
Budget Philosophy
Budget Challenges
Key Points
Recommendation
COMMUNITY OUTREACH
OUTREACH DATES
June 2 — Preliminary
Budget Released to
the Public
June 3 — Finance & June 9 —
Audit Committee I Community Meeting
June 22 — June 3 — 21 —
Community Meeting Online Community
Survey
BUDGET PHILOSOPHY
Conservative Balanced
Approach I Budget
Adequate Long -Term
Reserves Financial
Stability
BUDGET CHALLENGES
Businesses Shut -down — March 16, 2020
Major Loss of Revenue (Sales Tax and Hotel
Occupancy Tax, etc.)
Loss of City Business
Loss of Employment
Potential Second Wave
Rising Costs
KEY POINTS