Municipal Analysis: City of Del Mar

Key Findings: 1) The City made significant reductions in expenditures between FY 2008 and FY 2009 (nearly 14% when accounting for transfers). 2) The City's largest revenue loss between FY 1999 and FY 2011 came in FY 2008 where the City experienced a 10.15% decline in revenues over FY 2007. 3) The City's reserves were 36.6% less in FY 2009 than in FY 1999 (when adjusting for inflation). 4) The City's second highest source of revenue comes from TOT, which made up nearly 14% of the City's General Fund revenues in FY 2009. 5) The City has lost much of its anticipated TOT revenue for FY 2010. 6) The City's pension costs have increased 128% from FY 1999 - FY 2009. 7) The City does not pick up any of its employees' pension costs for nonsafety workers; the City does, however, pick up an additional 4% for safety members.

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Rosey Williams