Piggy bank borderDuring the great recessionNovato’s budget should be like a good family budget – income should not all be spent on day to day expenses.

Instead some should be put aside for long term maintenance such as for a new washing machine or roof repair. Some should also be put aside for dreams such as a college education or retirement.

 

 

Fiscal History

  • Novato must have a balanced operating budget by law
  • Novato receives less than 7 cents of every property tax dollar
  • Novato receives no garbage franchise fees or utility taxes
  • Novato never put aside money for long term maintenance of parks, buildings and streets

 

Fiscal Accomplishments

Weathered the Great Recession:

  • Reduced staff by 30% and budget by $4M during the Great Recession
  • Negotiated pension concessions – the maximum allowed for Novato
  • Reviewed all programs and services to cut waste and become more efficient
  • Passed voter-approved Measure F funds
  • Determined actual costs necessary for infrastructure maintenance — for the first time in Novato history
  • Determined core staffing needs to provide adequate city services — for the first time in Novato history

Coming out of the recession:

  • Set aside $1M annually for infrastructure maintenance — for the first time in Novato history
  • Added back only 8 core staff positions — but still down 38 positions from pre-recession.

 

Fiscal Vision

  • Get voter approval of a local sales tax measure approved unanimously by the City council.
  • Assure public safety and other critical services can be met within our budget.
  • Assure reserves are set aside for infrastructure and retirement.
  • Make prudent decisions for the use of the remaining Measure F funds