City Council discussed putting new types of taxes on the 2020 ballot and seeking corporate sponsorship to make up for flatlining revenues during a discussion of the City of Santa Monica’s finances Tuesday.

Council met Tuesday to review plans to shrink the City’s budget over the next several years as pension costs balloon and sales tax and parking revenue dwindle. City staff presented Council with a range of options to reduce costs, including eliminating about 29 currently vacant jobs, streamlining or cutting some services and putting new taxes on the 2020 ballot. The City has about 2,300 full-time employees who provide about 660 distinct services with a budget of more than $700 million per year.

Read More: https://www.smdp.com/pension-costs-force-discussion-of-new-taxes-and-service-cuts/175182