Last night at city hall, Paso Talks dealt with finance.
Finance director Ryan Cornell, city treasurer Mike Compton and administrative director Marlaine Sanders talked about the city’s financial well being, which mayor Steve Martin says is pretty solid.
To give you an example:
The city of Paso Robles has an annual budget of about $114 million dollars. It has a reserve of $35 million dollars. Roughly 30% of the operating budget. By comparison, the Paso Robles school district has a budget of about $75 million dollars. The reserve fund is only $754 thousand dollars. That’s less one per cent of the annual operating budget (although the reserve was 10% when superintendent Chris Williams took office three years ago).
Paso Robles, like most cities, gets revenue from sales tax, transit occupancy tax and property taxes. For the median home price in Paso Robles, $452 thousand dollars. The property tax is $377, of that $70 goes to the city, $100 to the county, $146 to the school district.
Paso Talks continues this evening with a discussion about the library, recreation and parks. Speakers to include Julie Dahlen, and librarian Angelica Fortin. That discussion will be at 6:30 this evening at the public safety center.