Mayor Kevin L. Faulconer
Continuing his commitment to invest in neighborhoods despite a lean budget year, Mayor Kevin L. Faulconer today introduced the City of San Diego’s Proposed Fiscal Year 2018 Budget – a balanced plan that prioritizes core community services such as street repair, recreation centers, libraries and public safety while making the largest infrastructure investment of this decade.
The City is projecting modestly improving revenue from property, sales and hotel taxes in FY2018, but that growth has been outpaced by a significant increase in the City’s annual pension payment following recent changes by the San Diego City Employees’ Retirement System’s independent pension board. The portion of the pension payment for the City’s $1.4 billion General Fund has increased by $45 million, from $191 million in FY2017 to $236 million in FY2018.
CONTACT: Jen Lebron at (619) 384-5289 or [email protected]