City of
Chula Vista
Fiscal Year 2023
Proposed Budget
Presented May 24, 2022
Agenda
2 • Fiscal Policy Revision
• Measure A Reserve Policy
• Summary of Recommended
Actions per SB1436
Fiscal Policy Revision
Update the City’s fiscal policies
to state:
The City’s operating budget shall
exclude unrealized gains or
losses resulting from the change
in fair value of investments.
3 Measure A Reserve Policy
4 Original Staff Proposal
• Establish an Economic Contingency Reserve equal
to 90 days of Operations
• There is no maximum reserve level as any
additional reserves would provide a greater level
of fiscal security and would be available for one-
time purchases (i.e., capital, consulting, software,
etc.) supporting public safety.
Measure A Reserve Policy
5 Measure A Citizens Oversight Committee
Recommendation
• Establish an Economic Contingency Reserve equal
to 90 60 days of Operations
• There is no maximum reserve level. as any
additional reserves would provide a greater level
of fiscal security and would be available for one-
time purchases (i.e., capital, consulting, software,
etc.) supporting public safety.
Measure A Reserve Policy
6 Revised Staff Proposal
• Establish an Economic Contingency Reserve equal to 90 60 days of Operations
• There is no maximum reserve level as any additional reserves above the required minimum would provide a greater level of fiscal security and would in the case of an unexpected economic slowdown. Any reserves above the required minimum could also be available used to support public safety consistent with the Measure A Public Safety Expenditure Plan through the application of Measure A sales tax revenues that will ensure the best return on investment in terms of staffing improvements for the improved deployment of resources and include the uses of these non- recurring funds, for one-time essential public safety purchases (i.e., capital, consulting, software, etc.) supporting public safety.
Summary per SB1436
7 By approving Resolutions J and K the City will be:
• Amending the Compensation Summary for
Unrepresented employees to: (1) provide a 3% salary
increase or equity adjustment to the median
effective July 1, 2022; (2) provide a vaccination
Wellness Incentive or leave equivalent to MM/PR for
employees that meet certain requirements and (3)
and recognize Juneteenth as a hard holiday.
• Adopting a Compensation Schedule required by
CalPERS that reflects the said salary or equity
adjustments for Executive Managers.
Comments/Feedback
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