For Immediate Release June 17, 2009

Contact: Cheryl Burnett
(310) 285-2454

Beverly Hills City Council Approves Annual Municipal Budget
Budget Reflects Economic Slowdown, While Preserving Vital City Services

Beverly Hills, CA – Despite volatile and uncertain economic conditions, the Beverly Hills City Council adopted a Fiscal Year 2009/10 annual budget of approximately $399 million that maintains a wide range of high-caliber, core city services. The budget adopted at the June 16th City Council meeting fills an $18.3 million gap in the General Fund, necessary to meet a decrease in City revenues brought about by the global recession. Over 75 percent of the City’s revenue comes from retail, hotel and other business taxes.

The City’s budget reflects the community’s priorities and impacts every resident, business and visitor. The budget affects how public safety, parks, roads, sanitation, parking and services are funded and maintained for the community. Cities are required by state law to have a balanced budget. The budget approved by the Council prepares the City in the event of on-going negative economic conditions and potential impacts of the State’s financial situation.

“The City Council has approved a conservative budget that reflects the economic slowdown and the resulting revenue losses, while upholding critical programs and services which the community values,” said Dr. Scott Miller, the City’s Chief