City Hosting Budget Workshop With Focus On Finances

A workshop by the Redding City Council Thursday will continue efforts to streamline the city’s finances in ways that can save money to use for public safety and capital improvement projects. The recession over the past decade has stripped the general fund of $10 Million in revenue. Around $700,000 has been found through a combination of cost savings and revenue generation. Around $300,000 of it would be from refunding bond debt, basically a refinancing plan. $30,000 would be saved by eliminating a system analyst position from the city’s I.D. Department. Taxes on cannabis cultivation and sales is expected to bring in at least $200,000. Combining the positions of Treasurer and Finance Director would save $150,000. Additional savings of up to a Million Dollars could be found by amortizing the city’s retirement liability. Thursday will be the 4th in the city’s series of budget workshops. It begins at 5 O’clock.

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