Monterey Park City Council will begin to review the proposed 2017-18 spending plan totaling $94.4 million when it meets Monday, June 12, 6 p.m. in open public session in the city council chambers. The meeting is open to the public and will be televised on the city's TV channel.
The Special meeting announcement has a somber warning citing federal budget cuts, employee pensions and benefits for both current and retired city employees. City officials were optimistic, however, for continued increase in revenues because of the improved national economy and income producing developments in the city.
In his budget message, Interim City Manager Ron Bell said that the U.S. Economy "continues to move along at a steady pace,' providing a positive not to future city revenues.
He said "Long term growth rates for General Fund revenues are projected to project better prospects due to its Market Place (shopping Center) and hotel developments."