HomeMy WebLinkAboutItem 7.1 Revenue Sharing Program (2) 536 -�
M E M O R A N D U M
TO: City Council
FROM: City Manager
SUBJECT. Revenue Sharing Program
DATE : November 23 , 1983
The City has been notified by the League of California Cities
that Congress has passed a bill which would reauthorize the
Revenue Sharing Program at the present level of funding for an
additional 3 years . This Bill has been forwarded to President
Reagan for signature . The Bill is in substantially the same form
as was recommended by the President to the Congress earlier in
the year. It is Staff ' s anticipation that this Bill will be
signed by the President and the City will receive additional
Revenue Sharing Funds this year.
The City received under Entitlement Period 14 $226 , 988 . Since
this Entitlement Period straddles our fiscal year, the budget
provided for the anticipated receipt of approximately $75, 664
during the fiscal year 1983-84 . The 1983-84 budget did not
include any funds which would come to the City from a
reauthorization of -the program. As a result of the action by the
Congress, it is anticipated that the City will receive approxi-
mately $170 , 000 in additional Revenue Sharing Funds during fiscal
year 1983-84 .
These funds may not be spent by the City until the appropriate
hearings are held by the City Council with respect to modifying
the City ' s budget in accordance with revenue sharing regulations .
I will answer any additional questions that you may have
regarding the program at the City Council meeting.
ITEM NO.