The City of Laguna Beach is having their Budget Workshop today, Tuesday May 19 2015.
The workshop will be at City Council Chambers located at 505 Forest Avenue.
The public is encouraged to attend.
Today will be a presentation of the 2015-2016 and 2016-2017 Laguna Beach Budget.
There will also be a question period.
On June 16 2015 the public is encouraged to attend a Budget Meeting where they will be able to make public comments.
Overall the Laguna Beach Financial forecast is healthy.
The City Manager, John Pietig recommends that the city proceeds with caution in expenditures due to concerns in regards to funding pensions.
The following is the beginning of the City Managers Comments attached to the Budget.
The economic outlook for the City of Laguna Beach is optimistic with moderate growth expected for the next two years. The General Fund is doing well and the City finds itself in a relatively healthy position with many of the City’s revenues meeting or exceeding levels experienced prior to the recession. The revenue projections assume continued moderate growth and that sustained drought conditions will not have a significant impact on the local economy.
The proposed two-year budget maintains current services and reserves. As the economy has recovered, demand for services has also increased and some of the positions eliminated during the recession have been restored to meet these demands. Unfunded pension liabilities still remain a significant concern. CALPERS (California Public Employee Retirement System) is forecasting that the cost of pensions will increase over the next five years, and possibly longer, as the CaLPERS Board continues to take steps to stabilize the pension plan.
For more information please view Budget Workshop.