Fiscal Responsibility

Responsible government starts with being honest about our financial challenges—and accountable for the choices we make to address them.

Monterey has a strong financial foundation, but we cannot take that foundation for granted.  While we adopted a balanced budget for the current fiscal year, we continue to face significant structural budget challenges in the years ahead.

As Mayor, I believe we need to address those challenges responsibly while protecting the services our residents depend on.

A strong financial foundation

$42.8 million in historic city-wide reserves

Monterey currently has approximately $42.8 million in total City-wide reserve balances, including $38.4 million in General Fund reserves and reserves held in the City's Special Funds.

$4.6 million in salary savings

As part of balancing the current budget, the City froze or left vacant positions, generating approximately $4.6 million in salary savings.

Balanced budget

The City adopted a balanced budget for the current fiscal year while making difficult spending decisions to address the projected operating deficit.

Those decisions included using $3.5 million in Neighborhood and Community Improvement Program (NCIP) funding to help balance the budget, not funding General Fund contributions to the Capital Improvement Program (CIP) this fiscal year, and suspending the City's Special Event Support Program.

The challenge ahead

While the current budget is balanced, we need to address the City's longer-term structural imbalance.  Current projections show operating deficits continuing in future fiscal years.

I believe Monterey needs a long-term approach that looks beyond one budget cycle.

The Roadmap to Resilience

I am working with City staff on The Roadmap to Resilience, which will bring residents, businesses, neighborhood associations, nonprofits, military installations, and other community stakeholders into the process.

Together, we can examine how the City delivers services, identify opportunities to operate more efficiently, evaluate programs and services, and consider sustainable ways to strengthen revenues.

Fiscal responsibility isn't simply about cutting costs.  It's about making thoughtful choices today so Monterey can continue providing the services our community needs tomorrow.