By Carolyn Schuk
Big jumps in payments into the California Public Employees’ Retirement System (CalPERS) system is one of the factors driving Santa Clara's "systemic" budget deficit over the next five years.
Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts
July 14, 2010: County Report Finds Municipal Employee Compensation Out of Line with Economy, Cost of Living, Municipal Revenues
By Carolyn Schuk
Once upon a time, public sector workers earned far less than employees in private businesses. In return, civil service employees received generous benefits. A 2010 study by the Santa Clara County Civil Grand Jury, "Cities Must Rein In Unsustainable Employee Costs," finds that today's public sector wages and benefits have grown "dramatically" over the last decade, and total municipal compensation "is out of sync with private industry and…unsustainable."
June 9, 2010: City's Pension Fund Costs to Double Between 2010 and 2015
By Carolyn Schuk
One of the reasons for Santa Clara's "systemic" budget deficit over the next five years is a big jump in payments into the California Public Employees’ Retirement System (CalPERS) system.
June 30, 2010: Salaries and Benefits Drive Growing City Budget
By Carolyn Schuk
By now anyone who hasn't been in a coma knows that Santa Clara's budget is headed for record deficits for the foreseeable future. In fact this percentage hasn't changed significantly in the last five years – and it isn't projected to change much over the next five.
April 28, 2010: Santa Clara Revenues Down, Deficit Doubles
By Carolyn Schuk
The City of Santa Clara is in a world of financial hurt. The City Manager's midyear budget review shows this year's total tax revenues – roughly 60 percent of the city's operating budget – down nearly 7 percent from last year.
May 4, 2010: Proposed Budget Principles Aim to Bring Santa Clara Accounts into Balance
By Carolyn Schuk
Taking up from the April 20 City Council meeting discussion about Santa Clara's 2010-2011 budget, at last week's Council meeting City Manager Jennifer Sparacino introduced principles to guide the budgeting effort.
May 19, 2010: More Red Ink Forecast for Santa Clara City Budget - May 19, 2010
By Carolyn Schuk
Santa Clara's operating budget deficit for 2009-2010 will reach $15 million, the City Manager reported to the City Council on May 11. This is more than twice the deficit that was forecast when the budget was finalized in July 2009.
Santa Clara's operating budget deficit for 2009-2010 will reach $15 million, the City Manager reported to the City Council on May 11. This is more than twice the deficit that was forecast when the budget was finalized in July 2009.
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