Unlike Other Cities, Rancho Cordova Says its Budget is Fine
City of Rancho Cordova
The rough economy and lousy housing market are making it difficult for public officials to balance their budgets. Except, apparently, in Rancho Cordova – Sacramento County’s newest city. And the reason for that might be development.
(Rancho Cordova, CA)
Tuesday, February 12, 2008
From the state to counties and cities, California governments are facing huge budget shortfalls for the fiscal year that starts July 1st.
But Rancho Cordova city manager Ted Gaebler says his city is right on track. He says that’s because it picks its revenue sources wisely.
Gaebler: “I actually have never understood why the other cities are linked so much to development.”
He says Rancho Cordova focuses on more stable revenues like sales and property taxes.
Gaebler: “So I think it’s absolutely essential that city governments not have any particular source of revenue that is dependent upon the construction industry.”
In fact, Sacramento Mayor Heather Fargo told the Sacramento Bee recently that her city relies too much on development.