The Town of Los Gatos unanimously adopted a balanced budget for the Fiscal Year 2021/22. The Town’s fiscal year runs from July 1, 2021 through June 30, 2022. Each fiscal year, the budget is adopted in June following a discussion of the Council Strategic Priorities and a public hearing process. The Town budgets can be viewed on the Town website.
For Fiscal Year 2021/22, the total Operating Budget Expenditure is programmed for $45.9 million, excluding Capital Transfers. In addition to the Operating Budget, the Council annually approves the Capital Improvement Budget which has $6.9 million in funding. The Operating Budget funds day-to-day Town services while the Capital Improvement Budget funds street maintenance, park improvements, and other facility upgrades.
FY 2021/22 General Fund Operating Expenditures
$45.9 Million (excluding Capital Transfers)
The allocation of funding for key Town services aligns with the Town goals of Public Safety, Quality Public Infrastructure, Community Character, Good Governance, Fiscal Stability, and Civil Enrichment.
Where Does the Money Come From? FY 2021/22 General Fund Operating Revenue
$46.9 Million (excluding restricted pension trust)
Revenue includes $2.8 million American Rescue Plan Act (ARPA) proceeds ($1.9 million used for lost revenue).
How is Property Tax Distributed?
The Town receives $9.30 of every $100 collected in property tax paid by property owners. The Town receives $1.125 of every $9.125 of sales tax paid for taxable sales generated in Town.