US EditionSanta Monica faces $60M budget shortfall
Summary by Santa Monica Daily Press
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Santa Monica Faces $60M Budget Shortfall as Pandemic, Wildfire Fallout Lingers
Santa Monica is grappling with a $60.5 million budget shortfall as it plans to tap into reserves over the next five years to maintain services. The city’s $789.9 million proposed budget for FY 2025-26 faces economic strain from lingering COVID-19 impacts, slow tourism recovery, wildfire fallout, and legal settlements. Key revenue streams like hotel taxes and sales tax remain below pre-pandemic levels, forcing the city to limit capital improvemen…
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