Special Meeting Called To Discuss Lake Elsinore Budget

The Lake Elsinore City Council will review its budget during a special public meeting to take place Tuesday.

The open public meeting slated to start at 4 p.m. at the is part of an annual midyear study session to review how the city is tracking against its fiscal-year budget.

Among the items expected to be discussed is a review showing expenditures running higher than revenues by $446,708 at the midyear mark. Although the city has seen its operating revenues increase $556,539 over the midyear projection, operating expenditures are running over by more than $1 million at midyear.

According to city documents, the biggest expenditure is $350,000 for supplemental water for the lake. There is also $246,426 to pay for starting a Citizens Patrol Program and a $195,389 severance for r Additionally, the city is looking at $160,000 in capital projects that range from campground improvements at the lake to upgrading city hall's phone system.

When analyzing at how much money Lake Elsinore has made at the midyear mark, city documents show an uptick in payments received from banks related to foreclosed properties in the city – more than $800,000. The city has also seen an increase in sales tax revenues of $133,00 over midyear projections.

Offsetting the increased revenues, however, is a dip in both property tax and business permit fee revenues. Combined, the decreases fall short at midyear by just over $300,000, according to the documents.

To see all the budget details expected to be discussed during the April 3 special meeting, click here.