The City of Atascadero spent more money than it took in during the last financial year, according to a report presented to the City Council Dec 14.
The city was forced to cut into its reserves to make up for the $715,189 budget gap. Atascadero spent $16,330,914 while only bringing in $15,615,095.
Though this might look bad to financial disciplinarians, it’s a better picture than the year before. The city had a $1.65 million gap during the 2008-09 financial year. In both cases, the city tapped into its reserves to deal with the crisis. Both revenues and expenses are down from the previous year. Revenues are $1.5 million less than the previous year and expenses are down about $2.5 million, according to the report.
The City Council voted to increase parking fines by $3. The price hike is a result of a state mandate imposed on all California cities.