The Forum (newspaper)
Sponsored by the Salvatori Center
Claremont City Manager Jeffery Parker has reported that the city faces a $3.5 million buget shortcoming over the next 17 months, covering both the 2008-2009 and 2009 -2010 fiscal years. In order to receive public input into the financial situation, a special session of the City Council was held Saturday morning from 8:00 to 12:00 in the Padua Room of the Alexander Hughes Community Center. The city is looking at red ink across the board. An official release detailing the matter cited a number of contributing factors to the projected losses, and gave the following analysis:
The City of Claremont is feeling the Impacts of the current economi situation across the country and the world. While the City has been fortunate to not suffer as severle from the foreclosure crisis as some of our neighbors, nevertheless, Claremont's other key revenue sources are down. Automobile and other sales are down. Transient Occupancy Tax paid by visitors staying at our hotels are down, and the development has all but stopped.
Parker recommended the city "appropriate the $1,011,000 in onetime unanticipated revenue," allowing the city to use money from grants and fees not initially budgeted for.
Here is the official documentation, which also includes the list of vacancies and budget cuts Parker presented at the meeting.