8) Santa Monica's unfunded Pension Liability in 2022 was an alarming $265 million, expected to have increased by $8 million in 2023. This amount equals about 115% of the General Fund. The unfunded Pension Liability is growing at a faster rate than our City's General Fund. In 2005, the unfunded Pension Liability was 45% of the General Fund.

12) The payments and legal fees for two of Santa Monica's ongoing lawsuits regarding District Based Voting, and the sexual abuse case related to an employee of the Police Activities League, have passed over $300 million.

Read More: https://www.smobserved.com/story/2024/03/01/opinion/santa-monica-is-broke-28-percent-of-sales-tax-is-generated-downtown-an-area-with-a-now-45-percent-vacancy-rate/8144.html