InTheNews: Money Matters in GT...

In Brief 5-25-2007
Staff Reports
Article Launched: 05/25/2007 12:00:00 AM PDT

GRAND TERRACE Council adopts 2007-08 budget

The City Council this week adopted the budget for the fiscal year starting July 1 and ending June 30, 2008.

Revenues are projected at $23million.
Spending is expected to be $21.8 million.
The most significant spending item is $9 million set aside in the redevelopment budget for the proposed senior housing project, City Manager Tom Schwab said.
Sales-tax receipts continue to climb, Schwab said.

The addition of three new businesses - CVS Pharmacy, Subway sandwiches and an expanded Miguel's Jr. restaurant - is expected to bring in about $100,000 to city coffers, Schwab said.
The city's largest sales-tax generator, Essco Electric, is doubling the size of its wholesale distribution center. When the expansion is completed in three or four months, it will mean even more revenue for the city, Schwab said.

GRAND TERRACE Pay raises in store for city workers

Fifty-four city employees will receive a 5 percent pay raise effective July 1, the City Council decided Tuesday night.

The council approved the increase for all employees, including workers at the city-run day-care center.

It is the third year in a row that employees have received a raise.

They received a 2 percent increase last year and a 5 percent raise in 2005, said City Manager Tom Schwab.

The raise will cost the city about $120,000, Schwab said.