Our
Town:
Compton-born Playwright Turns Life’s Observations Into Drama
Questionable Contracts Again Come Before Council
City Aims to Shut Down Auto Shop Where Murder Took Place
Victory Outreach Awarded Nearly $.5 M to Augment City Services
Permit Parking Finally On Its Way
Safety Seat Checkup Scheduled at South LA Mall
Hub City Youth Headed to National Track and Field Championships
CUSD Still ‘Not Out of the Woods’ as State Legislators Work Toward Final Budget
Earl
Ofari
Hutchinson:
Jackson Should Apologize to Blacks for His N-word Hypocrisy
City
Treasurer Warns Council It’s Spending Too Much
As the economy
continues to sour, Sanders advises elected officials to tighten up
the purse strings
By
Allison Jean Eaton
Bulletin Staff Writer
COMPTON – After
the City Council approved roughly $1.5 million in warrants alone last
week, the city treasurer told the Council that it’s spending
too freely.
“You just spend too much money,” City Treasurer Douglas
Sanders told his fellow elected officials July 8.
Mayor Eric J. Perrodin expressed frustration because, according to
him, the city has at least $2 million in the bank at any given time
and is in “strong financial shape.”
In the past, he continued, the city has underestimated revenues and
overestimated expenditures, resulting in a surplus.
City Manager Charles Evans explained that over the last several years
the city had balances in certain funds at the end of fiscal years,
which created the surplus.
But Sanders warned that with inflation on the rise and an economic
downturn that continues to grip the nation, the city could very easily
fall into poor financial standing.
“Your expenses may be more money than is readily available. It’s
never an exact science,” Sanders said. “If you’re
budgeting $200 million for the fiscal year, you’re gonna spend
$200 million, but you could have a shortfall. Which we’re probably
gonna have one, because this economy’s just not generating anything.
“You’re always either gonna have a shortfall, or you’re
gonna have a surplus, but when you budget it out and spend it, I can
only invest what comes in… If you spend it all, I have nothing
to invest with.”
The city in late June approved a $194 million budget for the current
fiscal year.
Over the past six months, the Council has approved a number of high-priced
contracts, including spending $1 million on a police feasibility study.
ADVERTISE | CLASSIFIEDS | ABOUT US | CONTACT US | SUBSCRIBE | HOME
This site and its contents ©2008 thecomptonbulletin.com