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Santa Monica Ca Finances

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CALIFORNIA | LOCAL
November 6, 1998
Library supporters are praising the overwhelming passage of the city's Proposition L, a bond measure that will provide $25 million for library improvements. Eighty percent of voters supported the measure, far more than the required two-thirds approval. City librarian Wini Allard said the bonds will be used primarily to expand the existing main library and upgrade technology and facilities at the three branches.
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CALIFORNIA | LOCAL
November 6, 1998
Library supporters are praising the overwhelming passage of the city's Proposition L, a bond measure that will provide $25 million for library improvements. Eighty percent of voters supported the measure, far more than the required two-thirds approval. City librarian Wini Allard said the bonds will be used primarily to expand the existing main library and upgrade technology and facilities at the three branches.
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CALIFORNIA | LOCAL
May 30, 1998
The City Council will hold budget study sessions next week in hopes of adopting a budget on June 23, officials said. At the sessions, to be held Monday and Tuesday, representatives from city administrative departments will present their 1998-99 budgets, said budget manager John Karcic. The estimated total budget for the next fiscal year is $279.3 million, Karcic said. The study sessions, which are open to the public, will be held at 6 p.m. in the council chambers at City Hall, 1685 Main St.
CALIFORNIA | LOCAL
May 30, 1998
The City Council will hold budget study sessions next week in hopes of adopting a budget on June 23, officials said. At the sessions, to be held Monday and Tuesday, representatives from city administrative departments will present their 1998-99 budgets, said budget manager John Karcic. The estimated total budget for the next fiscal year is $279.3 million, Karcic said. The study sessions, which are open to the public, will be held at 6 p.m. in the council chambers at City Hall, 1685 Main St.
CALIFORNIA | LOCAL
November 8, 1996
Santa Monica officials are looking for a way to build a public safety building after voters rejected a $29.5-million bond measure Tuesday that would have helped pay for a facility to house the city's police, fire and emergency operations. Proposition EE, which would have authorized Santa Monica to issue general obligation bonds to pay for the building, fell short of the needed two-thirds vote by less than 5 percentage points.
CALIFORNIA | LOCAL
June 23, 1995
Let other cities and counties worry about bankruptcy court. Santa Monica just passed a fat and sassy budget for 1995-96. It features more spending money, more cash reserves and more services than last year. There's even an extra $7.4 million to set aside for a new police station. How come? The city manager said it's prudent fiscal management--including cutting 100 city employees when times were tough a few years ago. Increasing tourism helps too.
CALIFORNIA | LOCAL
August 22, 1997
A new city-commissioned study says businesses dealing with the arts generate $1.27 billion a year in economic activity. The six-month study found that businesses dealing with the arts employ more than 8,500 people. In addition, art show visitors generate 10,000 additional jobs. Art exhibits also benefit the city spiritually, said Maria Luisa de Herrera, city cultural affairs administrator. "The human race's creative nature needs to be fed.
CALIFORNIA | LOCAL
July 26, 1997
A percentage of the revenue from tickets sold for rides and games at the Santa Monica Pier this weekend will go to agencies that assist the homeless, a pier official said Friday. Spokeswoman Paula Thorton said Pacific Park, the amusement park section of the pier, will donate 3% of weekend ticket sales--estimated at $3,000 to $5,000--to the Dolphin Change Program, which raises money for homeless service agencies in Santa Monica.
CALIFORNIA | LOCAL
August 17, 1995
Santa Monica received an economic shot in the arm this week, earning the highest rating granted by a major Wall Street credit-rating firm. The city joined San Diego as the second municipality in the state to win Moody's Investors Service's top rating of Aaa on uninsured general obligation bonds, a Moody's spokesman said. The announcement came only a week after Moody's downgraded Los Angeles County's credit rating.
CALIFORNIA | LOCAL
June 25, 1997
Santa Monica officials say they plan to spend $22 million on improving public transportation, parks and parking structures. City Finance Director Mike Dennis said the money will come from a federal transportation grant, Metropolitan Transportation Authority funds and money from high tax receipts. The additional spending is part of the proposed $277.7-million budget for 1997-98. The City Council was expected to approve the budget Tuesday night.
CALIFORNIA | LOCAL
August 22, 1997
A new city-commissioned study says businesses dealing with the arts generate $1.27 billion a year in economic activity. The six-month study found that businesses dealing with the arts employ more than 8,500 people. In addition, art show visitors generate 10,000 additional jobs. Art exhibits also benefit the city spiritually, said Maria Luisa de Herrera, city cultural affairs administrator. "The human race's creative nature needs to be fed.
CALIFORNIA | LOCAL
July 26, 1997
A percentage of the revenue from tickets sold for rides and games at the Santa Monica Pier this weekend will go to agencies that assist the homeless, a pier official said Friday. Spokeswoman Paula Thorton said Pacific Park, the amusement park section of the pier, will donate 3% of weekend ticket sales--estimated at $3,000 to $5,000--to the Dolphin Change Program, which raises money for homeless service agencies in Santa Monica.
CALIFORNIA | LOCAL
June 25, 1997
Santa Monica officials say they plan to spend $22 million on improving public transportation, parks and parking structures. City Finance Director Mike Dennis said the money will come from a federal transportation grant, Metropolitan Transportation Authority funds and money from high tax receipts. The additional spending is part of the proposed $277.7-million budget for 1997-98. The City Council was expected to approve the budget Tuesday night.
CALIFORNIA | LOCAL
February 13, 1997
The Santa Monica City Council has decided to issue up to $18 million in lease revenue bonds to help fund a new public safety building after voters rejected a $29.5-million bond measure to pay for the facility. Police officials said a new building is needed to house the city's police, fire and emergency operations because the 40-year-old headquarters now in use is overcrowded and run-down.
CALIFORNIA | LOCAL
November 8, 1996
Santa Monica officials are looking for a way to build a public safety building after voters rejected a $29.5-million bond measure Tuesday that would have helped pay for a facility to house the city's police, fire and emergency operations. Proposition EE, which would have authorized Santa Monica to issue general obligation bonds to pay for the building, fell short of the needed two-thirds vote by less than 5 percentage points.
CALIFORNIA | LOCAL
October 12, 1995
Santa Monica city officials have concluded that a nonprofit Santa Monica home-renovation agency has misused city funds for private benefit, provided false tax statements and failed to turn over accurate records when requested by the city. The determination comes after a lengthy financial investigation by the city into the Neighborhood Resource and Development Corp., a residential rehabilitation agency headed by former Santa Monica Mayor Nathaniel Trives.
CALIFORNIA | LOCAL
March 6, 1992
Santa Monica's estimated budget shortfall for the current fiscal year has risen to nearly $5 million, with a proposed bicycle path network leading a list of capital improvement projects canceled, scaled back or postponed as the city scrambles to balance the budget. At a City Council meeting this week, City Manager John Jalili said that the revised midyear budget has been balanced without cutting the level of service to the public.
CALIFORNIA | LOCAL
October 12, 1995
Santa Monica city officials have concluded that a nonprofit Santa Monica home-renovation agency has misused city funds for private benefit, provided false tax statements and failed to turn over accurate records when requested by the city. The determination comes after a lengthy financial investigation by the city into the Neighborhood Resource and Development Corp., a residential rehabilitation agency headed by former Santa Monica Mayor Nathaniel Trives.
CALIFORNIA | LOCAL
August 17, 1995
Santa Monica received an economic shot in the arm this week, earning the highest rating granted by a major Wall Street credit-rating firm. The city joined San Diego as the second municipality in the state to win Moody's Investors Service's top rating of Aaa on uninsured general obligation bonds, a Moody's spokesman said. The announcement came only a week after Moody's downgraded Los Angeles County's credit rating.
CALIFORNIA | LOCAL
June 23, 1995
Let other cities and counties worry about bankruptcy court. Santa Monica just passed a fat and sassy budget for 1995-96. It features more spending money, more cash reserves and more services than last year. There's even an extra $7.4 million to set aside for a new police station. How come? The city manager said it's prudent fiscal management--including cutting 100 city employees when times were tough a few years ago. Increasing tourism helps too.
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