Municipal Analysis: City of Solana Beach
Key Findings: 1) Revenue levels for the City have been on a downward decline for the past three fiscal years (2008, 2009, and projections for 2010), falling first by 1.16%, then by 3.33% and 6.55%, respectively. The total drop in revenues since FY 2007 has been 11%. 2) Expenditure levels for the City had decreased 10.16% in FY 2008, increased by 2.84% in FY 2009, and decreased 6.81% in FY 2010 (projected). The total increase in expenditures since FY 2007 has been 0.04%. 3) The City's reserve levels for FY 2010 are 25% less than what they were in FY 1999 (when adjusting for inflation). 4) Total pension costs have increased by 114% since 1999 (adjusted for inflation). 5) If the City were to eliminate EPMC, the City would have saved $423,314 in FY 2009.