Chino Hills Faces $2.2M Budget Deficit: How Reserves Will Safeguard Essential Services
City Of Chino Hills, Ca3 weeks ago
870

Chino Hills Faces $2.2M Budget Deficit: How Reserves Will Safeguard Essential Services

ARTICLES
budget
deficit
reserves
publicsafety
financialplanning
Share this content:

Summary:

  • Chino Hills adopts FY 2025-26 budget with a $2.2 million deficit, utilizing reserves to maintain services

  • Total budget shows $147.9M revenues vs. $150M expenditures across all funds

  • Law enforcement consumes 32% of General Fund, highlighting safety investment

  • Reserves stand at $46.8M total, with $34.9M unrestricted, but could drop to $27.1M in five years without new revenue

  • City pledges transparency and strategic planning to safeguard financial future

City of Chino Hills Adopts Fiscal Year 2025-26 Budget

The Chino Hills City Council has officially adopted the Fiscal Year 2025-26 budget, revealing a $2.2 million General Fund deficit. This shortfall will necessitate tapping into the City’s reserves to ensure the continuation of essential services and quality of life for its residents. Despite the deficit, the City has implemented numerous cost-reduction strategies and resource optimization efforts in recent years to mitigate financial strain.

Budget Overview

  • Total Budget: $147.9 million in projected revenues against $150 million in expenditures across all funds.
  • General Fund: $56.4 million in revenues and $58.6 million in expenditures, covering public safety, infrastructure, and community programs.
  • Law Enforcement: Accounts for 32% of General Fund expenses, underscoring the City's commitment to safety through its contract with the San Bernardino County Sheriff’s Department.

Reserves and Future Projections

The deficit will be addressed using the City’s General Fund Reserves, with a current total of $46.8 million and an Unrestricted Reserve of $34.9 million. However, without identifying new revenue streams, continued deficits could halve these reserves to $27.1 million over the next five years.

Commitment to Financial Stability

The City emphasizes transparency and community engagement in its financial planning, aiming to protect reserves for emergencies and long-term needs. For detailed budget documents, visit www.chinohills.org/Budget.

Comments

0

Join Our Community

Sign up to share your thoughts, engage with others, and become part of our growing community.

No comments yet

Be the first to share your thoughts and start the conversation!

Newsletter

Subscribe our newsletter to receive our daily digested news

Join our newsletter and get the latest updates delivered straight to your inbox.

OR
CustomerRemoteJobs.com logo

CustomerRemoteJobs.com

Get CustomerRemoteJobs.com on your phone!