Gilroy City Council to Hold Special Budget Meetings

Two special Gilroy City Council meetings are scheduled for Wednesday and Thursday. The topic of discussion: Budgets. 

The public is invited to attend and comment on the proposed budgets for Fiscal Years 2013-14 and 2014-15 during the meetings. 

City staff expects to have balanced budgets with revenues in the general fund higher than expenses in each fiscal year, according to city documents. The city also anticipates they will continue to have strong reserves in the general fund. 

For Fiscal Year 2013-14, the proposed combined budget is estimated at $119.5 million, $42.3 million in the general fund — a 4.7 percent increase from Fiscal Year 2012-13. In Fiscal Year 2014-15, the estimated combined budget is $122.4 million with $43 million in the general fund — a 1.9 percent increase over Fiscal Year 2013-14, according to city documents. 

"One primary factor leading to an increase in cost for the upcoming budget cycle is the City’s contribution to its retirement system, Public Employees’ Retirement System (PERS)," according to city documents. "The City has made significant proactive cost reductions in PERS including all employee units now paying the employee portion of retirement cost and establishing lower retirement benefit formulas for new public safety employees (new tiers) and implementation of the Public Employee Pension Reform Act (PEPRA) effective January 2013, which effectively reduces retirement benefit formulas for all new members."

The full budget packet for Wednesday is available here. Thursday's packet is available here. 

The budget study sessions will be held at 6 p.m. Wednesday, April 24 and Thursday, April 25 in the council chambers, 7351 Rosanna St., Gilroy. 

Stay Patched in! Follow Gilroy Patch on Facebook and Twitter. Sign up for the daily newsletters.