City Expenses are growing faster than City Revenues and the gap is widening. This will require that the City Council to make additional General Fund Budget service reductions and/or find new sources of revenue in the neighborhood of $800,000 to $1 Million per year in each of the next 3 years. This is true even after the projected revenues from the new San Carlos Marketplace and the future Palo Alto Medical Center are included.
Here are the highlights and materials from the February 26, 2008 City Council Meeting on the City Budget, the Mid Year Report, the Multi-Year Revenue Model and an overview of the General Fund Budget Challenges.