Times are tight, and the state may take our money. What’s old is new again, and the cyclical trend from the early 2000s that led to Proposition 58 on the 2004 ballot has returned. It’s not just bell bottoms, prairie skirts and Uggs making a comeback, budget trickery is too.

Simply taking local revenue was straight up abandoned with Proposition 58’s passage as it allowed for the creation of a reserve fund and eliminated future borrowing, but new ways always emerge.

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(6) comments

Tim E Strinden

I have to make a correction to my comment. Based on the news release, I believed the Housing & Economic Development Manager position was new. However, after checking further, I found that it was actually created in 2019 and first funded in fiscal year 2017. The news release was for the new appointment to fill the position. I apologize for that error.

I checked my records further for that older time period and found that Belmont's city budget for FY 2018 proposed a 48% increase in city personnel over the budget for FY 2015. This was after the passage of Measure I for infrastructure in late 2016, so city officials may have felt flush with cash.at that time. However, any fiscal woes today may be partly due to that huge increase in hiring at that time.

Tim E Strinden

Belmont officials raise alarm about this possible funding loss every year in the budget process, including this year. They claim financial disaster will ensue if this funding is lost and taxes may have to be raised to deal with it. Yet, they recently created two new and expensive city management positions, including the Housing and Economic Development Manager just now, and the Assistant City Manager one year ago. It seems irresponsible to add these positions if there is a real danger of financial crisis in the future.

Thomas Morgan

I remember when David Lim was on City Council in San Mateo it was cautioned that the City budgets should not rely on this source of funding and that it could be taken away at anytime (I think at that time the estimate would be it would end in two years). Fast forward ten years later and Cities seem over reliant on this funding source. I think would be wise to replace a swap with a swap. There are so much unfunded infrastructure and sea level rise to address. Why not have the State issue general obligation bonds (state repays) for infrastructure and sea level rise improvements (this would allow not only the current year but the entire balance owed)? Instead there is a victim mentality, and engaging in the same fight each year. Not to mention the current arrangement creates a temporary funding source which allows Cities and the County to incur future unfunded pension obligations (source lasts for 20-30 years, but the retirement obligation does not end when with the funding source).

Not So Common

Thomas, good point. The lesson, don't rely on revenue that the State can take away, or don't count your chickens before they're hatched.

smmikee

I like your thinking here Thomas, makes alot of sense

edkahl

Thank you for an excellent and informative article that our citizens should be aware of. One party government has it costs.

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