CALIFORNIA | LOCAL
July 1, 1999 |
The city closed out the 1998-99 fiscal year Wednesday with a $120,000 operating surplus, which will be transferred to help fund capital improvements this fiscal year. City Manager Fred W. Maley attributed the surplus to conservative budgeting last year. He said the city usually has some leftover funds at each year's end, but the savings in 1998-99 were particularly sound. "It's nice to have a surplus of that size," he said. "It means the city is healthy."