City’s Budget Remains Stable

The City's finances at the mid-year mark are in line with expectations developed when the budget was adopted last June. City staff forecasts that the year will conclude with a nearly $5 million General Fund operating surplus. Total General Fund revenues are projected to be $49.84 million and expenditures will be about $44.92 million.

Property tax revenues remain strong and are expected to reach $9.2 million. Sales tax revenues are expected to reach $12.3 million. Recent and planned developments including retail and restaurant openings are expected to increase sales tax revenues over the next year. Residents and visitors who shop, dine, and fill their gas tanks in La Mirada help to support local jobs and City services.

Revenues from the Theatre and Community Services programs are projected to total $11.25 million. La Mirada Theatre for the Performing Arts is having another strong season with two blockbuster productions, Jersey Boys and The Little Mermaid, still to come this spring. Recreation programs are also having another positive year. More than 60% of the City's costs for Community Services and Theatre programs are offset by revenues generated from ticket sales and participation fees.

The City will spend about $16.50 million on capital improvement projects. Numerous projects have been completed including street slurry seal in the neighborhoods near Windermere Park and Escalona Elementary School, rehabilitation of eastbound Imperial Highway from the west City limit to Biola Avenue, drainage improvements along La Mirada Boulevard, replastering of the lazy river and coating of the original waterslides at Buccaneer Bay, exterior painting of the City's historic buildings at Neff Park, and more. Other projects, including new solar panel carport structures and EV charging stations at the Civic Center, are in progress.

For additional information on the City's finances, call (562) 943-0131.