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City may face near-term deficits; consultants present scenarios to narrow gap
Summary
City staff and Urban Futures presented a 10-year long-range financial plan showing near-term operating deficits that could draw down reserves before an inflection point in the early 2030s; consultants outlined scenario tools and recommended community input at two town halls.
Huntington Beach city staff and consultant Urban Futures delivered a long-range financial plan to the City Council that showed operating deficits in the near to midterm and a projected inflection to surplus in the early 2030s, with a cumulative gap of roughly $50 million under the baseline scenario.
The baseline forecast, presented by David Kane, Interim Chief Financial Officer, and Jim Morris of Urban Futures (UFI), relies on the city’s FY25 adopted budget and 10 years of historical data. The model incorporates sources including Moody’s regional economic projections and local assumptions for CalPERS pension costs, ROPS waterfront receipts and emergency medical services reimbursements.
Kane said the plan’s purpose was “a strategic document that outlines the city's financial look,” and Morris emphasized the model’s role in testing options: “What if we do something different?”
The nut graf: the baseline projects…
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