In a slightly less cram-packed City Council agenda than others of late, arguably the most significant item will be the Financial Status Update and Financial Year 2023-24 Midyear Budget. Under Item 11, Staff Administrative Items, City staff will recommend that the Housing Authority — Council, essentially — approve the minutes from three meetings held last year, but also that Council approve said 2024-25 budget plan.
Staff will also recommend that the City Council adopt a resolution establishing new classifications and adopting salary rates for various positions, authorize the City Manager to accept both a grant of $200,000 from the Local Aging & Disability Action Planning program and a grant of $135,000 from the U.S. Department of Homeland Security for the City’s Office of Emergency Management.
This midyear budget review is an important touchstone in the City’s monitoring of its economic recovery and is an opportunity to assess whether adopted budget projections are on track. According to the City Council’s staff report, the midyear outlook is positive, reflecting an economy that continues to recover.
“The current investments in our community, approved during the FY 2023-25 budget, have positioned us to maintain our progress towards addressing community needs, and revenues are projected to marginally exceed previously budgeted amounts. However, the City continues to navigate various challenges,” it says and then lists some of those challenges.
They include economic uncertainty resulting from inflation and high interest rates, volatility of the insurance market and increased medical costs, consumer and work behavior changes, the need to address deferred infrastructure and equipment maintenance, and contingent liabilities from additional claims stemming from allegations of sexual abuse by a former employee and volunteer and over a request to transition to district elections.
The staff report also states that General Fund revenues will more than likely not recover to the level projected prior to the pandemic until FY 2026-27. While the City has already experienced a loss of nearly $170 million since 2020, revenues will lag behind pre-pandemic projected growth by nearly $34 million more over the next five years, for a total revenue loss of approximately $204 million over seven years.
Other items in Tuesday’s meeting include a Proclamation for Frieze Week Los Angeles as the international art show returns to the site at Santa Monica Airport. The art extravaganza runs from Thursday 2/29 to Sunday 3/3 and officials have advised that the area will be congested from around 9am – 8pm each day of the event.
Finally, the City Manager’s report will provide an update to the Vision Zero and Bike Action Plan. Back in November of last year councilmembers voted unanimously to strengthen the City’s safety commitment to reduce road-related injuries, an issue brought to the forefront of resident’s minds following the tragic fatal crash involving a cyclist on Idaho Avenue.
Tania Mooser died at 19th and Idaho in October and Paul Postel survived a crash at the same location in November albeit with four broken and two bruised ribs. Since then, that intersection has been made a four-way stop.
According to the City, this is part of a periodic review of these types of stop sign requests: It’s called the “warrant analysis” process, by which it’s determined whether a stop sign is the appropriate measure for a specific intersection/street. There is also a link on the Santa Monica government’s website where a stop sign can be requested.