The city is spending more than it is bringing in, and even though that’s normal for this time of the year, officials need to make changes to keep spending under control and keep the budget on target. According to the mid-year budget report presented to the City Council Tuesday, expenditures are at 50 percent of projections, and revenues are at 36 percent – about 14 percent less than anticipated. This is typical for this point in the fiscal year, Finance Director Leyne Milstein told council members Tuesday – but adjustment is still necessary. “Without these recommendations, we will not be able to balance our budget,” Milstein said. It’s not all bad news, though. The 2010-11 fiscal year

As the city pursues a potential lessee for the city’s parking inventory, there is an important question to ask: Could the city parking validation program end? If it does, is there a risk of damaging existing businesses – some of which have struggled in the downtown area for years? According to city parking services manager Howard Chan, Sacramento currently validates parking at city-owned garages for many local businesses and venues, providing an incentive to business owners: They buy the parking at a discount, and they have something to offer patrons as a courtesy. Merchants buy discounted parking tickets worth $5 of parking for 50 cents each, and the validation is good in any of nine ci

After the first quarter of the fiscal year, city revenues are only about half of what was projected, but city finance officials said they aren’t ready to panic yet. The negative balance for the city budget is not just related to lower-than-anticipated revenues – a large part of the imbalance is due to greater-than-anticipated expenditures. The $812 million city budget is running negative at the moment – “typical” for the first quarter of the fiscal year, according to the most recent report from the city Finance Department. The first quarter financial report will be presented to the City Council Tuesday. Of the six main sources of revenue for the city – property tax, utility user tax, sa

Mayor Kevin Johnson on Thursday sounded resigned to the idea Sacramento may soon lose its professional basketball team. A day after his first conversation with the Sacramento Kings' owners in more than a month, Johnson said Anaheim and its city-owned arena, the Honda Center, have this city beaten on too many fronts. Anaheim has a lucrative TV market and the Walt Disney Company’s Disneyland and other Fortune 500 companies that can buy sponsorships and luxury boxes and suites – critical revenue streams for basketball teams, in addition to ticket sales. Sacramento's economy is struggling and its arena is outdated, he said. "It's a business decision and the economics of Anaheim are better t

The city is buzzing with the news that the Kings appear to be heading out of town and down the coast. However, it hasn't happened YET and it isn't too late to let your voice be heard. There is a movement called "Here We Stay" that is asking Kings fans to sell out the February 28th game against the LA Clippers. That game falls the night before the March 1st deadline the NBA has set for owners to file for relocation to another city. Last I checked there were only 1,000 tickets left for the game. A sell-out would be fantastic and certainly make a statement, but it is not enough. That is less than 18,000 people from the entire city showing their support. What about people who are not Kings fa

For anyone who thinks that losing the Sacramento Kings is only that, the loss of a professional sports franchise, think again. If Joe and Gavin Maloof, Kings owners, choose to file for a move by the looming March 1st deadline and are granted relocation, this city will lose a lot more than 41 regular season home games a year. This is about more than basketball. Arco Arena, soon to be Power Balance Pavilion, is an old, crumbling eyesore that is already being passed up by some of the big names in sports, music and entertainment for newer venues. Without the Sacramento Kings and the Maloofs, Sacramento is unlikely to build a new entertainment center and will continue to lose out to our shiny

Sacramento County officials plan to lay off 725 employees in response to the county’s budget hole. The Board of Supervisors will discuss the county’s $181 million gap and planned layoffs at budget hearings next week. Board members may approve the budget for the 2010/2011 fiscal year next Wednesday, Thursday or Friday, according to the county’s schedule of budget hearings. The proposed budget figures released by officials Thursday include major cuts to programs as well as the planned layoffs. Interim County Executive Steve Szalay said at a Thursday morning press conference that the proposed budget was the third consecutive county budget containing deep cuts. “This is a sad day in the hi

Are you a small business owner or a direct sales representative unable to meet your revenue goals? Are you scared that you won’t have enough money to pay your bills tomorrow? Are you one of the unfortunate thousands who just lost their jobs and fear for their financial future? If you answered “yes” to any of those questions, then get ready to free your fear and take control of your financial future by attending the free workshop “Managing Your Money” being held March 16th, 6:00 p.m. to 8:00 p.m. in Sacramento or on March 19th, 9:00am – 11:00am in Elk Grove. Hosted by Barbara Thompson, certified financial stress reduction coach, the workshop focuses on stress reduction based on the princip