SAN DIEGO (CNS) - Revenues to the city of San Diego are projected to "modestly improve" over the next five fiscal years, while expenses will continue to rise, according to a financial outlook to be delivered Thursday to the City Council's Budget Committee.
The five-year outlook, released annually in November by the mayor's financial staff, projects steadily increasing general fund surpluses through Fiscal Year 2021. The general fund pays for basic services like public safety, parks and libraries.
The anticipated surpluses begin at $200,000 for the next fiscal year, and grow in subsequent years to $7.9 million, $25.1 million, $46.4 million, and $73.7 million.
The surplus predictions include a baseline -- reflecting projected revenues along with the cost of maintaining current service levels -- plus what the authors call "priority initiatives," which include infrastructure projects and public safety.
The projections don't include factors that occasionally pop up, like increases in contributions to the employee pension system.
"We all know the economy follows a boom and bust cycle, so I believe good periods like this are the right time to plan ahead, save for a rainy day and invest in the future," said Mayor Kevin Faulconer.
"I plan to continue to put even more of our tax dollars to work fixing streets and neighborhoods, and a growing economy is key to these efforts," he said. "But we must continue to live within our means and practice financial restraint."
Planned infrastructure improvements that are included in the projections include street and sidewalk repair, and storm water upgrades. Public safety spending would go to a computer-aided dispatch system for the San Diego Police Department, and staffing and equipment for new fire stations, among other things.
The city's main revenue sources -- property, sales and hotel taxes, and franchise fees -- are all expected to climb over the next five years, but the rate of increase could slow in the last couple of years, according to the report.
A local lawmaker is under investigation accused of inappropriate behavior towards a female lobbyist. Sen. Joel Anderson, R-Alpine, is accused of threatening the woman and harassing her at a bar in Sacramento last week, it was reported Tuesday.
And just like that, the end of summer is approaching! The Hopper, San Diego’s newest “hop on & off” double-decker tour bus, is letting kids ride free for the month of August!
A San Diego County sheriff's deputy already facing charges that he groped 13 women while on duty pleaded not guilty Monday to five new charges, including forcible oral copulation.
A man and his son made a dramatic attempt to escape a raging wildfire in Montana and they captured it on video.
Opponents of California’s gas tax increase are ramping up their efforts to build support for a repeal initiative.
Temperatures stay near average, varying by a few degrees throughout the week. Slight chance of thunderstorms through Tuesday for mountain and desert locations.
Two San Diego County community colleges announced Monday they expect to waive tuition for thousands of first-time, full-time students as part of the California College Promise program.
A Rancho Penasquitos teen is getting ready for his first day of school this week with his new service dog. The senior at Mt. Carmel High School was injured in a horrific car crash and is now in a wheelchair.
Researchers carrying out unprecedented efforts to save an ailing young killer whale in the U.S. Northwest released live salmon into waters in front of the free-swimming orca but didn't see her take any of the fish.