Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance committee pauses action, asks staff to prioritize revenue and cost options after forecast shows multi-year shortfall
Summary
City finance staff told the Santa Barbara City Finance Committee on Oct. 14 that the general fund faces a growing multi-year deficit despite Measure I and presented a prioritized list of revenue and expenditure options; the committee voted to continue the discussion next week and asked staff to prioritize high-impact items for further study.
City finance staff told the Santa Barbara City Finance Committee on Oct. 14 that the general fund faces a growing multi-year deficit despite the recent passage of Measure I and recommended a mix of revenue and expenditure options for the committee's consideration.
Finance Director Keith Demartini and Budget Manager Natalia Glusick presented the city's multi-year forecast and a staff-prepared list of more than 200 ideas narrowed into three tiers of recommendations. The presentation said Measure I, a half-cent sales tax approved by voters and expected to generate just over $15,000,000 annually for essential services, helps in the short term but does not close projected gaps in fiscal years 2026 and 2027.
Staff reported a current general fund projection showing a use of reserves of about $1.6 million in the current year and an estimated deficit that staff now project could grow to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
