City HallSaturday, November 7
San Diego's next budget is on track to balance with no new cuts, the mayor says
The SDtoday team
If you've followed the fights over library hours and rec centers, this one's good news. San Diego's new Five-Year Financial Outlook, released Friday, projects a balanced budget next fiscal year. Mayor Todd Gloria said at a Friday press conference that the forecast had "never shown the coming budget year in balance without the use of one-time resources or other one-time fixes. Today, it does."
The city's deficit shrinks from $258 million to zero next year
Sources: 10News.com, Times of San Diego
View as table
| Value | |
|---|---|
| Fiscal year 2025 | $136.8M |
| Fiscal year 2026 | $258M |
| Current fiscal year | $88.8M |
| Next fiscal year | $0M |
The outlook credits roughly $323 million a year in permanent improvements. Gloria also said, "This is not mission accomplished."
- Cut this year: some library and rec center hours, Fire-Rescue positions
- Next step: Gloria releases his proposed budget in April
- Deadline: final balanced budget is due at the end of June
Balanced doesn't mean flush. Gloria said, "Balanced does not mean finished," and the city still has more infrastructure needs than money. The outlook also landed in a week when opponents announced a recall effort against him.
Sources: 10News.com, NBC 7 San Diego, Times of San Diego