Mission Viejo to decide direction of surplus funds

The Mission Viejo City Council this evening will go over a mid-year budget review of a two year budget cycle.

Mayor Greg Raths says the review shows there will be a projected surplus of 200-thousand dollars for the second half of the budget cycle from January through June 30th of this year. He attributes that to a good economy with more money coming in from sales tax revenue.

He believes since the Laguna Hills mall is in financial limbo, many people from out of the city are visiting the Shops at Mission Viejo and that’s bringing in sales tax revenue to the city along with the successful car dealerships near the intersection of Avery Parkway and Marguerite Parkway.

Raths says he hopes the Council will agree to put the surplus into reserves.

In other business, the Mayor intends on giving his first key to the city to payment solutions businessman Jeff Zaret who had returned to Mission Viejo after living in North Carolina for 30 years.

Raths wants to welcome Zaret back. He’s the owner and operator of the Pay Protec West Coast Company.

Tonight’s City Council meeting begins at six.