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Like many cities throughout the county, San Mateo is weighing options to close a long-term structural deficit, including a potential ballot measure to raise revenue.
The city’s general fund for the upcoming fiscal year, which begins next month, projects a $15.2 million shortfall — with revenue estimated to hit $172 million and $188 million for expenditures.
“Our deficit for next year actually is only $6.3 million,” Finance Director Karen Huang said. “But once you bring in our contribution to capital [projects], that’s where our funding gap suddenly becomes larger, and that's where we get our $15.2 million projected deficit.”
The estimate is about $5 million higher than last fiscal year’s projected deficit and is due to a variety of factors, including stagnant sales tax and uncertainty over state reimbursement for a key revenue source related to vehicle license fees. The city also projects about 4% growth in assessed value for property tax.
“Eighty percent of the general fund revenue comes from tax revenues, which are the biggest piece,” Huang said. “Overall, general fund revenue is projected to stay relatively flat next year.”
Departments are looking at 2% to 4% reductions. The city also has a separate capital improvements budget to fund key infrastructure projects. And while some initiatives have already received funding — such as the Marina Library, which will begin construction this summer, as well as park improvements — there are about $352 million in unfunded capital projects that still need financing.
The long-term fiscal outlook, coupled with myriad infrastructure upgrades, led to a recommendation by Councilmember Danielle Cwirko-Godycki to evaluate a potential revenue measure.
“I ran for office because of flooding because we didn’t dredge the lagoon for 65 years,” Cwirko-Godycki said. “So I think it would be beneficial to put together a committee … to explore a ballot measure, so we can actually get a plan together to start funding these projects so we can continue to service our growing community.”
While the fiscal predicament is not unique to San Mateo, Huang said the deficit projections are not expected to close any time soon, with the city facing a projected structural deficit over the next decade. The city has also tried to bolster state and federal grant application efforts, but federal changes have led to more limited funding options.
“Our revenue is growing slower than we hoped it would,” Huang said. “The cost to provide services continues to rise, and we have a lot of aging infrastructures and facilities.”
The council will hold its second budget hearing June 16.
(650) 344-5200 ext. 102
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PeninsulaLawAndOrder said:
Funny😆 Trump was democratically elected. He won the popular vote and every swing State 💪
Thomas Morgan said:
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(1) comment
A reminder that revenue from ballot measures will be essentially used to pay for ever-increasing raises, pensions, and benefits. Vote NO. If you have voter’s remorse, don’t worry. You’ll see ballot measures every voting period because the city isn’t doing anything to rein in costs. And don’t be scared by supposed 2% to 4% reductions. These reductions are likely based on a budget calling for increased hiring and if they don’t hire anyone, voila, instant reduction. But only phantom savings. The existing taxpayer burden, steadily increasing, remains.
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