The subcommittee tasked with leading the efforts in deciding which one-time capital improvement projects should be prioritized and funded with a portion of the city’s $10.5 million surplus recently had its first meeting.
Continuing to work through the process of prioritizing one-time capital improvement projects to be funded with the city’s $10.5 million surplus, the Dana Point City Council on Tuesday, Oct. 1, received input from the public.
A new council subcommittee comprising Councilmembers Mike Frost and Jamey Federico will lead the efforts in deciding which one-time capital improvement projects should be prioritized and funded with a portion of the city’s $10.5 million surplus.
At the close of the 2021-22 fiscal year, the City of Dana Point is looking at a surplus of $10.5 million. During its Sept. 20 meeting, City Council voted unanimously to receive a financial report for the fiscal year and allocate the surplus to the Community Investment Account, California Public Employees’ Retirement System and Coastal Transit account.
In response to updated projections for the 2022-2023 Fiscal Year revenues and expenditures, City Council voted unanimously to amend its operating and capital improvement budget on Tuesday, June 7.
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