Lake Havasu city budget $10M less than a year ago
Lake Havasu City’s budget for the upcoming fiscal year is expected to be about $10 million less than it was a year ago, but it doesn’t mean the city will be raising taxes or laying off workers.
The proposed 2019-20 budget is $134,261,388, $10.3 million less than the current budget.
Thanks to the passage of Prop 409 in 2018, the city was allowed to increase its spending base by $5 million. It is money the city brings in and because of increases in health insurance won’t hamstring the city from moving forward with some of the things it needs and wants to accomplish.
Health insurance costs are going up 7.6%, about $600,000, but Councilman Gordon Groat said it could have been much worse, if not for the city’s Northern Arizona Employee Benefit Trust agreement with Bullhead City and Kingman. It was passed in 2012.