SAN DIEGO (CNS) - Mayor Jerry Sanders' staff Wednesday told the City Council's Budget Committee today that San Diego should see a budget surplus of $4.9 million in the coming fiscal year.
Despite some uncertainties, the mayor's staff projected a surplus up to $94.2 million by fiscal 2018.
Sanders' staff projects moderate growth in sales, property and hotel room tax revenue. That growth, however, could be undone by if the larger economy goes south.
San Diego City Employees Retirement System investments have fared poorly recently, and city contributions --ultimately derived from taxpayers -- may be increased to meet obligations to pensioners. Combined with the initial costs of implementing retirement benefit changes called for in Proposition B -- passed by voters in June -- the city might be faced with a new expense of up to $37 million next year, the report says.
Mark Leonard, the city's financial management director, said the figure is a "worst case" scenario.
SDCERS is scheduled to determine the amount of the city's contribution in January, following an actuarial analysis.
The report notes that the dissolution of redevelopment agencies by the state could leave the city's general fund on the hook for debt service for the construction of Petco Park and a prior expansion of the convention center. That would be a $14 million hit to the budget, according to the report.
However, the mayor's staff expects the current system, in which revenue still being generated by former redevelopment agency activities cover the debt payments, to continue for those projects.
The budget projections assume no raises for city workers, other those called for in labor contracts, and do not include expanded services, such as longer library or recreation center hours, according to Leonard.
The committee members voted unanimously to forward the report to the full City Council. They also asked staff to include an update at that time on some information technology issues and further details on costs for capital improvements.
A local war hero is about to be laid to rest. Retired Navy Captain James "Duffy" Hutton spent years of his service as a prisoner of war in Vietnam before he settled down here in San Diego.
Sunday marked day two of the government shutdown - and with the work week beginning Monday - thousands of employees may not go back to work.
Temperatures are expected to rise slightly on Sunday, according to the National Weather Service, but will remain cooler than normal.
A motorcyclist was suspected of drunken driving after causing a late-night car crash in Pacific Beach, police said Sunday, and hours later, a second crash occurred in the intersection while police were still investigating.
The San Diego County Planning Commission voted 6-1 last week to recommend that the County’s Board of Supervisors approve the County’s revised Climate Action Plan, with some modifications.
John Coleman, a long-serving San Diego weatherman and founder of The Weather Channel, has died at the age of 83.
Several dogs were taken into the custody of San Diego County and put down, after a Lomita woman reported that her six dogs were attacked and some killed by a group of pit bulls.
Thousands of people marched through downtown San Diego and San Marcos in the second annual Women's March Saturday. The San Diego event began at 10 a.m. at the downtown Waterfront Park on Pacific Highway, while the North County event began at 11 a.m. at Palomar College.
Thousands of people marched through downtown San Diego and San Marcos in the second annual Women's March Saturday. The San Diego event began at 10 a.m. at the downtown Waterfront Park on Pacific Highway, while the North County event began at 11 a.m. at Palomar College. The two marches were held in conjunction with other marches across the country.
The federal government shut down at the stroke of midnight Friday, which prompted the closure of many federal operations, such as national parks and monuments and that included the shutdown of Cabrillo National Monument.