The item -- which articulates the reasons Santa Monica is in "fiscal distress" -- does not reduce services, cut staffing, grant the City manager emergency powers or declare a fiscal emergency.

And it will have no impact on the City's top AAA credit grade from S&P Global Ratings and Fitch Ratings, said City Manager Oliver Chi, who placed the item on last Tuesday's Consent Calendar.

Read More: https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2025/September-2025/09_15_2025_Council_Approves_Fiscal_Distress_Resolution.html