Fiscal Sustainability: COVID-19 Recovery & Beyond

Ensuring the City’s budget can adequately support essential services, facilities, infrastructure, and manage pension liabilities has been a top priority during my tenure on the council. It's time to stop kicking the can down the road.

I am proud to have led efforts to significantly bolster our financial reserves. We increased the city’s rainy-day fund to 20% of the general fund, the largest reserve in our history. Additionally, I spearheaded the creation of 9 new reserve funds, including allocations for critical areas such as the Conference Center, Sports Center Facilities, Technology Infrastructure, Sea Level Rise, City Facilities, Library Facility and Maintenance, Public Safety Facility and Maintenance, Parking Garage Facilities, and Pension Obligations. In the upcoming 2024-2025 budget, these reserve allocations are projected to reach $40 million.

As stewards of our community, it is our duty to responsibly manage current costs without burdening future generations with excessive debt. We must prepare for the inevitable rise in the cost of goods and services, ensuring sustainability and stability for Monterey's future.