A Message to Our Residents
The City of Paramount is pleased to present the 2024-25 Fiscal Year (FY) Budget at a Glance. Guided by our Vision, Mission, and Values, this simplified version of the full budget document includes an overview of major revenue sources, expenditures, and our capital improvement program. Much like a household spending plan, the City’s budget is prepared to make investments that lay the groundwork for our future. While a family might plan for such expenses as housing, food, clothing, transportation, or medical bills, the City’s focus is for public safety, parks, recreation, utilities, roads, building maintenance, and much more.
Our Vision, Mission, and Values help guide our Strategic Outcomes and set the standard for Paramount’s priorities, as illustrated in this FY 2024-25 Budget at a Glance.
FY 2024-25 General Fund Revenues: $45,975,300
The General Fund is the primary operating fund of the City. General Fund revenues include taxes, license fees, permit fees, charges for services, investment earnings, and a variety of other sources.
Paramount receives various one-time and ongoing revenues to provide the resources to build fiscal strength, reinvest in the community, repair critical infrastructure, and provide a multitude of services.
The City continues to focus on key strategies to enhance revenue growth and efficiencies, such as evaluating service levels and utilizing technology to meet increasing demands.
Sales tax and Transaction Use Tax (Measure Y) continue to be the primary revenue sources for the General Fund, accounting for nearly 42% of total General Fund revenues.
GENERAL FUND REVENUE SOURCES AND 10 YEAR TREND
Sales Tax
Measure Y
Property Tax In Lieu of VLF
Property Tax
Utility User Tax
Franchise Tax
Business Tax
User Fees
Admin Reimbursement
Other Revenues
The General Fund's operating expenditures include salaries and benefits, supplies and services, facility equipment, maintenance and replacements, and some major improvement projects.
General Fund Budget Breakdown
The City of Paramount continues to address the needs and expectations of our community, while simultaneously proposing beneficial major improvement projects.
Our budget maintains traditional services which are needed for a City to function and provide what residents and businesses need as well as the successful City programs and events to all residents.
Major Improvement Projects
FY 2024-25 General Fund: $4,006,800...$35.4 million invested in infrastructure since 2014!
Construction projects are an investment that provide permanent improvements or additions to land, buildings, and infrastructure, intended to increase their value or usability for a community.
Arterial Street Repaving
$1.4 million
Orange Avenue from Alondra Blvd to City limit.
Neighborhood Street Repaving
$1.85 million
Jefferson Street from Garfield Avenue to Georgia Avenue.
West Paramount Biking/Walking Path
$775K
North of Salud Park to just south of the 105 freeway.
Alley Paving + Fence Improvements
$415K
Throughout the City.
Median Enhancements
$258K
Downey Avenue.
Ongoing Project - Coming Soon!
Bikeway Trail Phase II: $7 million
Somerset Blvd to Paramount Blvd.
