The man San Diegans elected to be their new mayor will be officially sworn into office today. Jerry Sanders becomes the city's first strong mayor at a time of unprecedented financial turmoil. KPBS reporter Alison St John has more.
Sanders has already begin to name his new executive team and is talking of shaking up the administration at city hall. But UCSD political scientist Steve Erie says the most immediate problem for the new mayor is something he has little control over
Erie: "The clock is ticking financially, and we're going to face cash flow problems by early summer unless we can get into the bond market , as it is, the Bank of America which is doing our short term financing, is beginning to raise interest rates, so the sword of Damocles that is hanging over the head of the mayor and council is the audits."
The city's 2003 audit is still not approved, as a massive combs through tens of thousands of city documents. Meanwhile, rating agencies say they are waiting for evidence of fiscal discipline from Sanders, before readmitting the city to the bond market. Alison St John KPBS news.