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City Audit Reveals General Fund of only $7,600 Cash for Fiscal 2012

By   /   February 11, 2013  /   2 Comments

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wages_coins_empty_wallet_315 280Ridgecrest, Ca.-Town and Cities across the state are facing financial woes as they scramble to backfill and borrow internally to close the deficit gaps in their budget.  Following the City of Ridgecrest located north of Yucca Valley in Kern County with similar demographics and a budget of $10 million, their latest audit presentation shows a sobering financial outlook.

Having tried unsuccessfully for 5 years to pass a General Fund tax, Measure L barely passed last June increasing their sales tax by 3/4% for 5 years, raising the sales tax from 7 1/4% to 8%. While the anticipated tax revenue was expected to be around $1.5 million, that figure was adjusted down due to a further decrease in sales to $1.3 million.

A Cactus Thorns post described drastic cuts Ridgecrest made in their Parks & Recreation department and laid off several police officers.  link

The Oversight Committee demanded and received ten years of financial records to set up a base for their expectations of the Measure L tax increments that were “verbally” dedicated to road and police.  Having been informed by the Ridgecrest City Attorney these are “General Fund” taxes that can be spent on anything resulted in a clash between the Committee and the City.  link

The Ridgecrest news reports, “Last year, the city had $10.67 million in general fund expenditures and a negative deficit of $614,000. In 2007, the reserve stood at $2 million. Over the subsequent five years, steadily dropped that reserve. At the end of the 2012 fiscal year, the general fund only had $7,600 in cash.”  Read entire story:  link

More updates will be posted .

Margo Sturges Author link

 

 

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Margo Sturges

Yucca Valley Editor

Note: Margo Sturges has written many articles for Cactus Thorns and is the founder of Citizens4Change.info. Email contact: MargoSturgesYV(at)aol.com "In a time of universal deceit, telling the truth becomes a revolutionary act."- George Orwell

2 Comments

  1. RescueGuy RescueGuy says:

    And why do you, or should we, really care?

  2. @Rescue Guy-This post is to understand a General Fund sales tax is not the cure all to end all of the budget woes. Hopefully by watching Ridgecrest work through their problems, similar to Yucca Valley-except they have a sewer in place, one might learn from other trials and tribulations.

    Since you live in Twentynine Palms…I understand your query of, paraphrasing your comment…”Why should anyone care?”

    Thank you for comment. I care.

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