Mayor Sam Liccardo today released his March Budget Message for the upcoming fiscal year--a plan that balances investments in key City services, such as public safety, housing, homelessness, and blight, with an emphasis on saving, building reserves, and reducing debt to make San Jose resilient to any looming downturn in the future.
“Through belt-tightening and focused spending, we’ve made significant strides in restoring our City’s fiscal health and core services -- such as rebuilding our police department and funding major road and infrastructure projects,” said Mayor Liccardo. “We can build on our progress with additional one-time investments, while also preparing for expected fiscal strains in the years ahead and protecting residents from the severe cuts that characterized the last economic downturn.”
While the Budget Office’s General Fund Forecast projects a modest $3.5 million surplus in the coming year, its five-year projection offers a more cautious outlook. Projected future deficits, coupled with growing retirement costs and the possibility of an inevitable recession informed the Mayor’s proposal to prioritize savings and focus on one-time strategic investments:
Housing & Living Costs
See Budget Documents and Messages from Previous Years