FOR IMMEDIATE RELEASE

Contact: Joyce Masterson, 760-839-4621 

At the direction of Mayor Abed and the City Council, Escondido City Manager Clay Phillips will unveil a proposed $75.4 million general fund budget for next fiscal year which, for the second year in a row, does not rely upon the use of reserves.  The proposed budget will be discussed at the April 25th City Council meeting. Information about the budget is available at http://www.escondido.org/meeting-agendas.aspx

Mayor Sam Abed was enthusiastic about the proposed budget saying, “This budget puts us well on our way to sustainable, long-term financial health, as well as allowing us to restore some of the pay our employees lost over the past few years.”

City Manager Clay Phillips also was cautiously optimistic about the proposed budget, noting, “Economic recovery is coming to Escondido, with our sales tax revenues continuing to increase modestly, but revenue is still approximately $14 million less than it was in 2007-2008.”  

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