Municipal Analysis: City of Coronado
Key Findings *The City of Coronado has experienced budget surpluses in 11 of the last 13 years, with Fiscal Year (FY) 2010 and FY 2011 being the exceptions. *The City's General Fund reserves remain in a strong position, with reserves projected to be equal to 109.54% of the General Fund Budget for FY 2011. This is down from a high of 145.25% of the General Fund Budget in FY 2007. *The City has dipped into General Fund reserves for FY 2010 ($120,393) and FY 2011 ($572,079), and projects that it will continue to do so until FY 2016 due to operating deficits expected to begin in FY 2013. According to projections, if the City's expenditures are not restructured and revenues remain stagnant, General Fund reserves will be depleted by half from the FY 2009 beginning balance to the end of FY 2016. *Property taxes make up the largest portion of the City's General Fund revenues. *Public Safety consumes the greatest share of the City's General Fund budget at 41.89% for FY 2009. *The City's staffing has increased 6.82% between FY 1999 and FY 2011, while the population has decreased by 3.99%. *The City has per capita debt at more than $6,095. The City's redevelopment agency has more than $140 million in outstanding debt.
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