Oroville, city of cash
City rakes in $3.4 million more than expected, takes steps toward solvency
At Tuesday night’s meeting (Dec. 17), the Oroville City Council was tasked with determining uses for $3.4 million in unanticipated revenues for fiscal year 2018-19.
While a majority of the increase was attributed to the Camp Fire and the 20 percent growth in population, a full $1.4 million came from the new 1 percent sales tax implemented April 1, as collected through June 30, confirmed Ruth Wright, Oroville’s finance director. Additionally, the transient occupancy tax brought in 40 percent over the previous year (more than Chico’s reported 25 percent).
The council’s vote included bolstering its general fund reserves, adding $1.5 million to reach a target goal of $3 million, and putting $1 million toward the pension fund.