Historically, Walnut Creek has enjoyed massive budget surpluses and reserves; however, today our City Council believes in spending as much money as possible without making the tough decisions necessary to protect the long-term financial stability of our city.
Walnut Creek has gone from enjoying 30%+ budget surpluses to an estimated negative surplus in FY 09-10:
In the last decade, Walnut Creek's population has grown over 2.5%. During the same time frame revenues have grown over 12%:
By only looking at the City's revenue numbers, you would likely guess that Walnut Creek is in good financial shape.
Unfortunately, City expenses have risen at a much greater rate. In fact, City expenses have increased nearly 50% in the same time period:
If City expenses had increased expenditures at only the rate of CPI, the City would have nearly $15.6 Million less in total expenses for FY 09-10 and we would have returned to the historical 30% yearly budget surplus.
Walnut Creek deserves new leadership that will bring financial common sense back to City Hall. For new leadership that rebuilds the city's long-term financial health make an investment in me:
Sources:
Walnut Creek 2010-2012 Budget - Supplementary Section
CPI Data
Long Term Financial Plan - Published January 18, 2006 (available through the City by request)
