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Los Angeles County, CA March 3, 2009 Election
Smart Voter

Fiscal Responsibility

By Stephanie Johnson

Candidate for Council Member; City of San Marino

This information is provided by the candidate
  • balance the budget without tax increases
  • control costs + review budget line by line
  • solicit Federal, State and County funding sources for capital projects
The first priority of the new Council must be to address the City's financial condition.

California government is facing an economic and budget crisis at the state, county and city levels. The City will most likely face revenue reductions and the public will be asked for tax increases. The PERS retirement fund has lost billions of dollars due to the financial recession and the City may be required to make additional contributions.

The City of San Marino is quite small, operating under a $22.5 million annual budget, and serving an affluent community with high expectations. The challenge of the Council is to continue to provide first-rate services, repair and upgrade the City infrastructure, make capital improvements and undertake new projects with limited resources.

Already, City expenses exceed revenue (not including annual pledged Library donations). The five year forecast projects continued deficits.

The current operating budget allocates approx. $13.6 million to staff costs in salaries and benefits. The yearly personnel costs increase is approx. 7%. The City has an unfunded liability ($2 million) for retiree healthcare. In addition to ongoing staff costs, in 2007 the City refinanced the PERS Public Safety Side Funds by issuing $7 million in bonds. During construction of the Library, the City borrowed $2 million to replenish its reserves. Annual debt service is $663,378.

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ca/la Created from information supplied by the candidate: February 10, 2009 14:22
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