- From FY2017-18 through FY2020-21, City revenues and expenditures grew at a moderate annual average rate (3-6%), above historic long-term inflation (3%).
- Revenues exceeded expenditures in every year, resulting in positive balances and growth in reserves.
- The California Auditor ranked the City’s financial risk as 123 out of 423 (1 is riskiest) in FY2019-20.
- The City’s 1% sales tax Measure SS (passed in 2016) is projected to generate $14 million annually but expires December 2022 unless renewed by voters Nov. 2022.
- If Measure SS is not renewed the City faces annual deficits that will require use of reserves until depleted in FY24-25.