On Tuesday, June 8th the Oakley City Council approved the Fiscal Year 2021‐2022 Budget. The budget is structurally balanced and continues to provide for the base operations of the City.
This year’s budget is focused on Capital Improvement with a specific focus on streets and roads. With development at an all‐time high in the City, additional revenue has allowed for significant funding to annual pavement repairs and maintenance projects.
The overall City‐wide revenue is projected at $60.8M and expenditures are expected at $71.1M excluding any transfers. General Fund revenue is projected at $24.9M with recurring expenditures at $24.9 million.
The City has taken great care to ensure that recurring expenditures do not exceed recurring revenues over time. City‐wide expenditures include $20.3 million in capital projects which exceeds last year’s capital projects budget by approximately $16 million.
Along with increases to the capital improvement plan, the City will also be adding to our public safety team. An additional Police Officer and an additional Police Lieutenant have been accounted for in the budget. Public safety continues to be a priority for the City and at the forefront of budget priorities.
While the budget is driven by revenue received, Sales Tax revenue continues to lag behind other cities within the County. As Oakley continues to build commercial retail sites within the City, there is potential to capitalize on the sales tax revenue that we currently miss out on as citizens seek retail shopping in surrounding cities. With the building industry continuing its upward trend we are excited to see this revenue become a more significant part of the budget in the future.
In Fiscal Year 2020‐2021 the City applied for and received the California Society of Municipal Finance Officers (CSMFO) Operating Budget Excellence Award. This is the first time this award was received by the City of Oakley since its incorporation in 1999. The award is designed to recognize those agencies that have prepared a budget document that meets the highest criteria and standards applied to municipal budgeting. The City plans to continue to apply for and receive this award year after year. We would like to thank the City Council for their continued oversight. It is this oversight that allows the City to continue to stay true to the City’s strategic priorities.
We would also like to thank the dedicated staff of the City who continue to provide their expertise on how to maximize the resources we have and utilize them prudently to meet current needs. We take great pride in providing the citizens of Oakley, the City Council, and staff a budget that leads to continued success.
The final budget document can be found on the City’s website on the Financial Documents page of the Finance Department.
Press Release by City of Oakley
Note – to view the budget, click here.
