Monday, November 26, 2012
The San Diego City Council will take up two big financial issues today.
SAN DIEGO The San Diego City Council will take up two big financial issues today.
First the council will receive the five-year budget outlook put together by the city’s Independent Budget Analyst. While Mayor Jerry Sanders has projected budget surpluses in the coming years, the IBA said there’s actually a risk of multi-million dollar deficits.
Following that, the council will vote on whether to renew a tourism-marketing district for the city. This allowed hoteliers to increase room taxes and use the extra revenue for marketing purposes.
The district is set expire after a five-year run. The renewal would keep the tax in place for an additional 40 years.