San Mateo Set To Commit $5.5M In Additional Employee Pay, Benefits

San Mateo CA

18 April, 2022

10:26 AM

Description

SAN MATEO, CA — San Mateo is set to give out $5.5 million in additional employee salaries and benefits after a favorable budget report from the 2021-22 fiscal year. The city council was set to receive an update on the 2011-22 fiscal year mid-year budget at a study session Monday. With a $8.6 million projected surplus, city staff proposed that the city commit $5.5 million for employees' salaries and benefits. Staff also proposed that the city commit $4.5 million in additional funding for capital improvement projects. San Mateo is projected to end the fiscal year with $155.2 million in revenue and $146.6 million in expenditures. Staff attributed the positive budget report to favorable property tax. The look-ahead to the 2022-23 fiscal year is less favorable, with projected revenues of $159.1 million and expenditures at $165 million. Click here to view the staff report. The study session begins at 5:30 p.m. on Monday. Click here for more information on how to join the meeting.