R.P.V. Council Delays Adoption of Budget
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The Rancho Palos Verdes City Council has put off adopting a budget because of concerns about possible state spending cuts, but members directed city staff to adhere to a proposed $13.8-million spending plan.
Council members decided not to adopt the 1992-93 budget Tuesday night because the Legislature, which is still finalizing its own budget, may take funds traditionally earmarked for cities to help bring state spending in line with tax revenues.
Rancho Palos Verdes’ $13.8-million spending plan for 1992-93 would include $6.9 million for operating costs and $2.3 million for capital improvements, almost $1 million less than the 1991-92 budget.
It underscores a period of austerity that began after city officials discovered a $2.8-million budget shortfall in 1990.
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