Categories: Budget, Finance, Pension
As is common among local government pension systems in California, workers have not been making annual contributions toward their pensions in nearly all of the small cities in San Diego County.
Calpensions goes on to state that staff in the City of La Mesa will begin covering their pension contributions.
Encinitas taxpayers continue to pay a substantial proportion of the "staff's" contribution to the pension system.
The CalPERS chief actuary says pension costs are “unsustainable,” and the giant public employee pension system plans to meet with stakeholders to discuss the issue. [Read More].
UT Governor Backs Down
"So if both parties don't like to borrow from local government, of course we will not borrow from local government. That's clear.”
SDNN Leaders Gather to Vent
SDNN reports that San Diego councilmember Kevin Faulconer is 99 percent sure the state is going to force cities to loan money to the State. This likely possibility was known to the City of Encinitas when they adopted their budget two weeks ago. The City decided to not plan for this in their budgeting process. Instead, staff made it clear that the city would dip into their rainy day emergency fund when the Governor and state legislators declare a fiscal emergency.
The following is the estimated amount of money local governments will have to loan:
Chula Vista- $4 million
National City- $950,000
Imperial Beach- $344,000
Coronado- $1.65 million
San Diego - $30 to $35 million
Santee - $1.2 million
Lemon Grove - $1.1 million
Del Mar- $400,000
Oceanside - $4.5 million
Carlsbad- $4.5 million
Vista- $1.8 million
Poway - $1.2 million
San Marcos- $1.3 million
County of San Diego - $70 million
The cities not listed have not yet responded.
Encinitas did not respond.
TCN City Reacts to Possible Raid of the City Budget.
Comment: City staff proposed using the city's contingency fund if the State declares a fiscal emergency. Only Councilmember Barth was opposed to adopting a budget document that was incomplete. Staff did not explain why the budget was unfinished. Ironically, staff implied that it would have been very easy to complete the document.