Larkspur budget includes $5.7M in capital improvements
Larkspur has approved a balanced budget for fiscal year 2023-24.
The City Council unanimously approved the city’s financial plan on June 7. The fiscal year begins July 1.
The budget shows $22.4 million in revenue, an 8% increase over last year; $21.1 million in expenses and a $5.7 million capital improvements program.
“Revenues remain strong with property tax pretty much the driver,” City Manager Dan Schwarz said.
Property taxes are projected to be $14.95 million for the fiscal year, compared with $13.43 million for the current year.
The increase, Schwarz said, is allowing the city to “keep pace with, if not slightly outpace inflation and the cost of doing business.”
Sales taxes are up, too, with budget managers expecting to net $3.19 million in the next year, up from $2.91 million.
The city is paying $5.8 million for services from the Central Marin Fire Department and $4.7 million for Central Marin Police Authority services. Administration costs are projected at $2.1 million, with about half of that paying for salaries.
The Community Development Department is increasing its building inspection budget from $878,000 to $1.15 million. A bulk of that will pay for the hiring of a new chief building official. The department also has $773,632 budgeted for planning.
The library budget remains fairly flat at $967,901.
“We’ve been really holding the line in the library because we’re strategically starting to plan how we need to grow our services and grow our staffing to move to our new facility,” Schwarz said.
The city has approved plans to build a new library estimated at over $10 million.
“And so we’re we’re being very cautious as we start to expand that budget,” Schwarz said.
For capital improvements, Julian Skinner, director of public works, said there are a total of 18 carryover projects, which already received funding allocations last year.
Seven of those projects require additional funding in the 2023-24 fiscal year.
The capital improvements program includes $207,715 for parks projects, including $100,000 for the Dolliver Park rebuild. The park was damaged in the winter storms.
Streets and utilities projects make up the bulk of the program at $5.52 million. Major projects include $2.3 million for the Heatherwood Storm Drain Pump Station rebuild and $1.63 million for other storm drain replacement and repair work.
Another $1.17 million is going toward a bicycle and pedestrian project along northbound Redwood Highway.
Carryover projects that do not need funding this year include the library rebuild and related site improvements, road pavement projects, Bon Air Bridge replacement work and mitigation projects, among others.
The council thanked the staff for making the budget easy to understand.
“The budget book is terrific,” Councilmember Kevin Haroff said. “It’s a lot better than when I got started working on this council. It’s a real accomplishment and I think we appreciate those efforts.”