Santa Clara Operating Budget Up Modestly for 2011-2012, But Are Revenue Forecasts Too Optimistic?
The City of Santa Clara’s operating budget for the 2011-2012 fiscal year is up 2.2% from 2010-2011 spending, driven by increases in interest paid on municipal debt (up 25%), payments in-lieu of taxes and franchise fees (up 5.1%) and increases in non-salary operating expenses (up 3.9%). Despite freezing city salaries, implementing one-day-per-month employee furloughs, and … Read more