Essay on Budget Analysis Capital Improvement Program - San Diego, Ca
San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. In 2006, the city's population was estimated to be 1,256,951. It is the second largest city in California and the eighth largest city in the United States, by population. It is the county seat of San Diego County and is the economic center of the San Diego–Carlsbad–San Marcos metropolitan area, the 17th-largest in the United States with a population of 2.9 million as of 2006, and the 21st-largest metropolitan area in the Americas when including Tijuana.
San Diego County lies just north of the Mexican border—sharing a border with Tijuana—and lies south of Orange County. It is home to miles of beaches, …show more content…
In doing research, I did however find some really interesting political conflict within city hall. Apparently in 2004 San Diego leaders were staring down the gun of a $2 billion deficit.
The pension fund has a shortfall of more than $1.15 billion and growing. An additional $1 billion in unfunded retiree health care costs pushes the figure past $2 billion.
Investigators from the FBI, the U.S. attorney's office and the Securities and Exchange Commission are probing whether charges should be brought for the suspected filing of incomplete financial documents before the sale of bonds. The federal investigation, along with credit-rating downgrades from Wall Street, is preventing the city from issuing bonds to raise revenue.
The city manager and the city auditor retired under fire as the financial picture deteriorated. The pension board has sued its counsel, accusing the firm of providing inadequate advice. Retirees worried that they won't get their pensions have sued the city.
Having this information really gave me an “eye” while