Monday, October 4, 2010
There will be more money talks at the San Diego City Council meeting today. The council will consider additional reforms meant to get San Diego back on the right financial path.
SAN DIEGO There will be more money talks at San Diego City Council today. The council will consider additional reforms meant to get San Diego back on the right financial path.
The three new reforms are being proposed by a task force charged with analyzing San Diego’s financial sustainability.
Task Force Chair Vincent Mudd said the city needs to cut $73 million a year, limit spending and put at least half of any future surpluses toward savings or debt. Mudd said the reforms are not part of Proposition D, which is a proposed half-cent sales tax increase.
“If you forget Proposition D, those three things together would be something that everybody would want the city to codify as its budget principles anyway,” he said.
But Mudd said a combination of the sales tax increase plus these additional reforms would be San Diego’s best shot at eliminating its structural budget deficit once and for all.