Councilmember Carl DeMaio released a memo today showing the major impact the new Downtown Library project will have on the city’s General Fund which faces a staggering $200 million deficit. Read the memo here. From the SDUT PolBlog: By shelving a new downtown library, the city could save as much as $63 million over the next five years, according to a fiscal analysis …
As the City of San Diego confronts a staggering $200 Million-plus budget deficit, Councilmembers Carl DeMaio and Donna Frye have teamed up to propose a process to analyze and negotiate significant reforms in pension benefits that have been awarded to city employees over the years and are now contributing to the city’s financial problems.
Below is a great editorial by Michael Rosen detailing the deficit and the bipartisan plan to begin the reform process.
San Diegans have known for years that our city is in trouble, but the extent of that trouble came sharply into focus days ago with the release of the latest alarming budget deficit numbers.
The city’s Independent Budget Analyst (IBA) report described the current status about as bluntly as possible: “the City of San Diego is facing a calamitous financial situation.”
The IBA’s mission is “to provide clear, objective and unbiased analysis and advice to the City Council and the public regarding all legislative items bearing financial and policy impacts to the City of San Diego,” and in this case, it appears to have lived up to its billing.
The report itself revised upward the enormous deficits anticipated in Mayor Jerry Sanders’s own “Outlook” for Fiscal Years 2011-2015, predicting a $200 million shortfall in FY 2011 and a cumulative, gaping five-year chasm of $1.16 billion (with a “b”).
Councilmember Carl DeMaio released a budget forecast showing that the city cannot balance its budget even if it closed all libraries, eliminated all park and recreation programs, and imposed a Trash Tax of $60 million annually. At the City Council’s special meeting on the budget crisis today, DeMaio provided a powerpoint presentation depicting additional liabilities not included in the city’s official …
Today the City disclosed a budget deficit of $180 million — confirming concerns that the city’s financial problems are worsening. Councilmember DeMaio believes it is imperative that we educate and engage the public on the city’s financial problems — and seek their ideas on solutions. That’s why he’s convening an eight-week long series of “Town Halls on City Finances.” (See …