Proposed 2013-2014 Budget Amendments Strengthen City Finances

On Monday night, the Lakewood City Council is scheduled to review proposed budget amendments to its 2013-2014 budget, and the proposed numbers are good news for the public.

There will be a public hearing on the proposed biennial budget amendments at the City Council's regular meeting June 16. The City Council is scheduled to adopt the amendments July 7.

The most noteworthy change is the proposed adjustment calls for an increase to the City’s General Fund reserves.

City Manager John Caulfield says the proposed increase to the General Fund reserves is another sign that the City of Lakewood is committed to operating efficiently and effectively. It will establish a strong financial foundation from which the City can move forward on a number of initiatives, particularly roads, sidewalks, park improvements, public safety and economic development.

Caulfield added that while the City is strengthening its reserves, it’s not stopping there. This proposed budget amendment also includes an allocation of funds that will support street restoration, specifically filling potholes and pavement patching, street striping, economic development, information technology investments and dollars to improve a key gateway and entrance to the City at Bridgeport Way Southwest and I-5.

“Citizens want to get the most bang for their buck,” he said. “That’s what they expect and that’s what we, at the City, are going to deliver.”

The City has posted its proposed budget amendments on its website: 2014 Miscellaneous Budget Adjustment June 16, 2014