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Walnut Creek council accepts 10-year financial forecast, flags pension and Measure O timing
Summary
The Walnut Creek City Council on Jan. 21 accepted a 10-year financial forecast that models mild and moderate recession scenarios, notes pension and Measure O timing risks, and directs staff to return with pension-trust recommendations for council consideration.
Walnut Creek City Council on Jan. 21 accepted a 10-year financial forecast presenting two recession scenarios and updated assumptions about revenues, pension costs and Measure O funding.
The forecast, prepared by Administrative Services Director Kirsten Lacasse, projects general-fund trends under a “mild” recession (12-month downturn, two-year recovery) and a “moderate” recession (18-month downturn, three-year recovery). It assumes no use of reserves or the pension trust in baseline modeling and does not include potential new Measure O revenue beyond existing ongoing commitments.
The forecast’s nut graf: council members heard that under both scenarios the city generally remains near breakeven over 10 years but could face mid-range…
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