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.
Cool weather helped fire crews gain ground Thursday against the nation's deadliest wildfire in a century, as the search went on for more bodies. At least 56 people were killed and 300 were unaccounted for a week after the flames swept through.
A man died after being found with a gunshot wound at a park in Mountain View early Saturday morning, police said.
A man was injured when he was shot while standing on a street corner in Lincoln Park early Saturday, police said.
Day 2 of The Susan G. Komen 3-Day, a 60-mile walk to support breast cancer research and programs starts up again Saturday. Walkers will continue their journey through Ocean Beach, Mission Bay Park, Tecolote Shores and De Anza Cove Park.
Residents of Malibu forced to evacuate because of the Woolsey Fire that has been burning for 10 days will be able to pick up their mail on Saturday in downtown Los Angeles and a Disaster Assistance Center will open to help residents impacted by the nearly 100,000-acre blaze.
Police are asking for the public's help in locating an elderly woman who went missing from her son's Mira Mesa home.
A power outage in central San Diego affecting over 2,200 homes in University Heights, North Park, Normal Heights, Kensington, Talmadge, and West State College was reported early Saturday morning just after 7:00 a.m.
The Dewey Elementary School, which serves a large number of military families, on Friday put out a call for donations as their Winter Wonderland Fundraiser fast approaches.
Argentina's navy announced early Saturday that searchers found the missing submarine ARA San Juan deep in the Atlantic a year after it disappeared with 44 crewmen aboard.
More evacuation orders due to the nine-day-old Woolsey Fire were lifted Friday in the Malibu and Topanga areas, amid expressions of frustration by residents over the slow pace of repopulating areas because of road closures.