General Fund Fiscal Outlook

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Presentation transcript:

General Fund Fiscal Outlook Joint PUSD – City Council meeting February 15, 2018

Current fiscal position Fiscal Year 2018 General Fund Operating Budget – excludes debt service and transfer to PCOC

Current and projected fiscal trends Department of Finance

Current and projected fiscal trends

Current fiscal position Fund Balance

Fiscal reality Investment in key infrastructure lacking Despite significant reductions the cost of maintaining service levels is outstripping resources $19 million ongoing reductions Elimination of 123 FTEs Shift of $5 million pension costs to employees Investment in key infrastructure lacking Fire stations in need of upgrades Streets and sidewalks in need of repair Libraries and Community Centers – significant deferred maintenance

Fiscal reality Demand for additional services continues To address impact of homelessness To provide emergency medical services Programming for youth FY 19 operating budget Projected gap of $3.5 m Additional position eliminations Noticeable service reductions

Options for maintaining fiscal stability Mayor’s state of the City address Framed the issue Suggested pursuit of additional revenues To maintain service levels To reinvest in critical infrastructure Advisory vote related to PUSD Council presentation January 29 Information and discussion Additional discussions expected on March 5th

Moving forward Development of FY19 Budget Council to consider Capital and Operating Budgets in spring Engage community regarding priorities Return to City Council as appropriate for discussion and direction