Fri, 6 Nov, 2026, 11:31 am
Reported by insidesandiego.org
As the result of prudent financial decisions implemented over the past several years by Mayor Todd Gloria’s administration and approved by City Council, the City of San Diego will head into its next fiscal year with a balanced budget and avoid additional reductions to services and programs, according to the Five-Year Financial Outlook released today by the City’s Department of Finance.
In plain terms: the money the City expects to take in next year covers what we expect to spend," said the City’s Chief Financial Officer Rolando Charvel. “Because of this Administration’s fiscal discipline and tough decisions, the City will not have to start its budget process by deciding which services to cut unlike each of the last several years.”
Three years ago, the financial picture for the City of San Diego looked very different. In Fiscal Year 2025, the City faced a $136.8 million deficit. In Fiscal Year 2026, the City confronted a $258 million deficit. For the current fiscal year, the deficit was $88.8 million.
Next year, it is zero. The Outlook opens in balance with ongoing revenues projected to support ongoing expenditures. For the first time in years, the City's ongoing General Fund revenues are projected to cover its ongoing operating expenses without relying on one-time funding to close the gap.
