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cents per $100 dollars of valuation, a reduction of 2.1 cents compared to last <br />year. This translates to 5% above the no -new -revenue rate, and a savings of <br />$42 dollars per year compared to the current tax rate for someone whose home <br />is valued at $200,000 dollars. The rate was able to be lowered further by <br />holding vacancies, reducing operations costs and making the difficult financial <br />decisions where Council and staff have worked collaboratively to respond to <br />these uncertain times. <br />This budget also includes a proposed 2.5 percent salary increase for all <br />non -civil service employees effective in October. Due to the pandemic, the 4% <br />salary increases that were budgeted for this past April were not implemented. <br />The proposed increase is a cost of living adjustment and acknowledges the <br />outstanding work of our employees throughout this uncertain time. Awarding <br />it in October instead of April 2021, also helps to align with when increases are <br />awarded to police and fire in accordance with their meet and confer <br />agreements. <br />Many in our community continue to feel the economic impacts of the <br />pandemic, and this budget reflects our commitment to be responsible stewards <br />of taxpayer dollars. All departments went through a zero -based budgeting <br />process to ensure operating funds are used as efficiently as possible. Also, due <br />to more vacancies than normal, staff is being asked to do more than their <br />normal responsibilities. <br />In addition to the departments stepping up, the City has worked with <br />community partners during this budget process. This includes restructuring the <br />economic development incentive agreement with Endeavor that Council <br />approved in July and the restructuring of one of our Tax Increment <br />Reinvestment Zones to pay the developer sooner and realize cost savings. <br />Mr. Lumbreras expressed his appreciation of staff for their outstanding work <br />on the budget and their diligence ensuring the City's financial security to <br />continue providing services. He also thanked City Council for their support of <br />staffs recommendations and willingness to join us in making tough decisions <br />to ensure a balanced budget is achieved. Despite these uncertain times, City <br />Council's guidance and the dedication of staff has resulted in a solid plan that <br />invests in the strategic priorities while continuing to fund critical City <br />operations. <br />Mr. Lumbreras introduced Melissa Neel, Assistant Director of Finance, who <br />presented the proposed budget. <br />City of San Marcos <br />