City Of Santa Monica: City Council Weighs In On FY 2021-23 Biennial Budget

Press release from the City of Santa Monica:

May 27, 2021 9:00 AM

Over the last two nights, the Santa Monica City Council held study sessions to review the City Manager’s Proposed FY 2021-23 Biennial Budget. City Council’s feedback aligned with the Council adopted priorities of a clean and safe community, addressing homelessness, and an equitable and inclusive economic recovery. This feedback will be incorporated into the Final Biennial Budget, which will return to Council for adoption on June 22.

The FY 2021-23 Biennial Budget comes on the heels of pandemic-induced revenue losses of tens of millions of dollars that required a restructuring of the City organization, including the loss of over 400 staff members. The FY 2021-23 Biennial Budget reflects no deficit – either now or in the associated five-year forecast and the City retains its rare AAA bond rating from all three national credit rating agencies. This strong fiscal health is attributable to the painful, but necessary budget actions taken in spring 2020.

This budget continues to reflect prudent financial management with restrained enhancements focused on safe re-opening of in-person public services and improving customer service. The FY 2021-22 General Fund budget is $349.5 million; by way of comparison, the pre-pandemic FY 2018-19 General Fund adopted budget was $440.2 million. Council comments expressed support for programs and services in the proposed budget including:

Media Contact

Constance FarrellPublic Information Officer

constance.farrell@smgov.net

This press release was produced by the City of Santa Monica. The views expressed here are the author’s own.