City To Host Budget Workshop On Wednesday

The Redding City Council will provide input in the city staff’s big number crunching project Wednesday. The 10-year budget plan is done to maintain a long-term forecast of the city’s financial future. It’s presented as part of the biennial budget and updated every six months. City Manager Barry Tippin says there’s increasing budget pressure due to the overburdened CalPERS Retirement System. City policy requires that 5% of projected expenditures be set aside as a rainy day fund. The council has discussed, and staff recommends, that the reserve be slowly increased to 10% of expenditures in order to ensure the city’s financial stability. The budget workshop begins at 2 O’clock Wednesday.


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