Fri. Feb 3rd, 2023

Santa-Ana-City-Logo

City of Santa Ana, Downtown Orange County

Community Alert: Mayor and City Council React to Financial Forecast At Upcoming City Council Meeting



SANTA ANA, CA (February 3, 2014) – At Tuesday’s City Council meeting, the Mayor and City Council will receive a mid-year update and revised financial forecast for their review and approval. The revised forecast reflects positive changes in our local economy. Major revenues such as sales and property tax are increasing at a higher rate than previously forecasted which will provide the City with additional funds to serve our community. General economic activity is increasing with general retail sales up 3.4%, building permits have increased by 3.8% and unemployment has now dropped to 8.5%.

Michele Martinez commented, “As the Chairperson of the Finance, Economic Development and Technology Council Committee, it is exciting to see that the tough choices made by my colleagues, city staff, all of the bargaining units, and a very involved community are paying off as we turn the corner in a positive direction.”

The revised five year forecast moves the City towards a positive financial direction with future balanced budgets.

Mayor Miguel Pulido stated, “This financial forecast is great news. The Santa Ana economy is vibrant, our future is bright, and our great city is back on track.”

Because of this forecast the 5-year strategic plan will now include $2 million dollars in annual funding. In addition, the City will achieve a targeted reserve of 20 percent ($41 million) by 2015, well ahead of schedule.

​“Working with the City Council and our outstanding management to put the city on a positive fiscal track is my number one priority. A structurally balanced budget, strong reserve policy and healthy economy makes Santa Ana attractive to investors and allows for improved service levels,” stated City Manager David Cavazos.

Please attend the upcoming city council meeting to see the new 5-year forecast first-hand. If you are not able to attend the meeting, you can visit http://santa-ana.org/coc/archive.asp, where the meeting will be aired live or archived for later viewing.

####
For full details, view this message on the web.

By Editor

The New Santa Ana blog has been covering news, events and politics in Santa Ana since 2009.

5 thoughts on “City Council gets good news about Santa Ana’s finances as revenues increase”
  1. Don’t be fooled by the false economic recovery!

    Manufacturing activity in the U.S. expanded at a slower rate than expected in January, dampening optimism over the health of the economy, industry data showed on Monday.

    In a report, the Institute for Supply Management said its index of purchasing managers dropped to 51.3 last month from a reading of 57.0 in December. Analysts had expected the manufacturing PMI to ease down to 56.4 in January.

    On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.

    The New Orders Index registered 51.2, a significant decrease of 13.2 points from December’s seasonally adjusted reading of 64.4. The Production Index registered 54.8, a decrease of 6.9 points compared to December’s seasonally adjusted reading of 61.7.

    The Employment Index registered 52.3, which is 3.5 points lower than the seasonally adjusted 55.8 percent reported in December

    Following the release of the data, the U.S. dollar fell sharply against the euro, with EUR/USD rising 0.24% to trade at 1.3521, compared to 1.3486 ahead of the data.

    Meanwhile, U.S. equity markets extended losses after the open. The Dow Jones Industrial Average dipped 0.6%, the S&P 500 index fell 0.6%, while the Nasdaq Composite index dropped 0.7%.

    Michele Martinez is clueless!… so is the council

  2. That’s the nation as a whole. This report is about the local Santa Ana economy, which seems to be headed in the correct direction.

    1. Obviously you are a moron mongoloid Onanymous who believes that the national economy does not effect SA, OC and CA.

      The reason why you do believe that it is heading in a right direction is because Michele Martinez told you so!

      So if the USA dollars falls sharply you have different Santa Ana dollar with Pulido picture on it?…….. you idiot?

      1. I should add that a reason why CA has a surplus is because rich people payed capital gain 60% taxes on Stock-market pumped up by FED. That is not gone be same in 2014.

        The Stock-market bubble is bursting.

  3. Santa Ana residents beware! Please research what is happening with the City Of Phoenix’s budget now. David Cavasos projections were inaccurate and the City Of Phoenix is in dire financial shape. Don’t be fooled like the City Of Phoenix was.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Verified by MonsterInsights