Fiscal Management

By Steve Zuckerman

Reductions in sales tax revenue, the increasing cost of State mandates, and our aging infrastructure underscore the importance of prudent fiscal management if we are to maintain our community assets and services in the manner that we are accustomed to.

By reducing the number of staff positions by 33%, we have saved over $1.2 million over a three year period.

I was the first member of the City Council to suggest a 50% reduction in city contributions to second tier, defined contribution pension plan for our employees. The Council did implement this reduction in the following year; and we have now eliminated this program entirely. This will will result in a savings of $550,000 over the next 10 years.

We were the first city on the "Hill" - and one of the first in the State - to require an employee match for contributions to our defined benefit pension plan. this will save more than $1.25 million over the next ten years.

Under prior management, our city stables had accumulated an operating deficit of nearly $500,000 that required borrowing from our general fund. As both Chairman of the Equestrian Advisory Committee as a member of the Stables Operations Subcommittee, I was able to work with staff and Council to reorganize the Stables under a concession agreement. This that has improved services and created a positive swing of $136,000 in our first year of operation, an amount that will increase to $200,000 annually under a scheduled increase in our concession fee.

Pursuant to my suggestion to staff, we have implemented the re-financing of our obligation to CALPERS for our pro-rata share of shortfalls in the State Pension fund. This will result in $420,000 in savings over the ten year term of the note.

Pursuant to my suggestion to staff,we have implemented the replacement of our traffic signal lights with LED fixtures. This has reduced our energy consumption and saved over $150,000 to date.

As co-member of the Stables Renovation Subcommittee, I have worked with staff and project consultants to reduce project costs by over $500,000 and keep this important project within the limits of our state and county grants.