SDCTA Updated Carlsbad Municipal Analysis

Key Findings: 1. The City of Carlsbad's (City's) largest revenue decline occurred in fiscal year 2009 with a 6.49% decrease in General Fund revenues. Expenditures were reduced from FY 2008 to FY 2009 by 11.97%. 2. At the end of FY 2009, the City had $48.3 million in "usable", undesignated General Fund reserves, or 44.62% of the City's General Fund budget. To date, the City has not dipped into these reserves. 3. Total governmental tax revenue for the City of Carlsbad has grown an average of 2.62% per year between FY 1999 and FY 2009. 4. The City of Carlsbad's single largest expenditure is public safety. In FY 2009, public safety spending consumed 44.84% of the City's General Fund (not including transfers). 5. When adjusting for inflation, from FY 1999 - FY 2009, spending in community services has grown the most out of all expenditure categories (78.97%). Large growth also occurred in general government, public safety, and public works during these same years (61.22%, 47.8%, and 45.27%, respectively). 6. Between FY 1999 and FY 2009, the City has hired 161.25 new full time and part-time employees. 7. While staffing has increased 29% between FY 1999 and FY 2009, population within the City has increased 42%. 8. When adjusting for inflation, the City's total pension costs have increased 174% between FY 1999 and FY 2009. 9.The City has a $63.9 million unfunded pension liability as of FY 2009. 10. In FY 2008, the City of Carlsbad paid off a $4.9 million unfunded liability toward the City's retiree healthcare plan. 11. Carlsbad pays the second highest for Firefighter/Paramedics and Executive Assistants and the fourth highest for Assistant Planners out of selected neighboring cities. 12. At the end of FY 2009, the City of Carlsbad's governmental long-term debt amounts to $103.86 per capita.

Rosey Williams