Budget Workshop 11-17-2008

On November 17th the City Council held a workshop to discuss the City’s projected budget gap.  The gap is the result of revenue shortfalls, impacting both the current fiscal year and next fiscal year.  The City is projecting a $3.9 million gap in the current fiscal year, increasing to $20 million in fiscal year 2009-10.  The workshop included presentations from outside experts on the regional economy, local housing market, and property values in Chula Vista.  Finance and Budget staff presented an overview of the projected budget gap in the current fiscal year and next fiscal year, along with a series of budget balancing options.  Links to the budget workshop presentations are provided below.

Budget Workshop, 11-17-2008 (300kb)

Regional Economy, 11-17-2008 (2.2MB)

Local Housing Market , 11-17-2008 (2.9MB)

Property Values County Assessor, 11-17-2008 (500kb)

The next budget workshop will be held at 6 pm on December 4th in the Council Chambers.  This workshop will include Interim City Manager Scott Tulloch’s recommended action plan to address the budget gap on an ongoing basis.