City of Carson Achieves Historic Milestone with Structurally Balanced Budget and Surplus

The City of Carson is proud to announce a significant achievement in its fiscal management. Last night, during the City Council meeting, Deputy City Manager, Tarik Rahmani and Senior Budget Analyst, Ralston Turner presented the City of Carson budget public hearing, marking a historic moment for our community.

We are delighted to share that, for the third consecutive year, the City of Carson has achieved a structurally balanced budget. This accomplishment demonstrates our commitment to responsible financial planning and ensures the long-term stability and prosperity of our city.

The budget was passed unanimously by the City Council after months of careful consideration and planning. The financial plan includes a focus on efficient resource allocation, reducing unnecessary expenses, and creating new revenue streams. The result is a balanced budget that allows the city to continue providing essential services to its residents, while also maintaining a healthy reserve fund for unexpected expenses.

Even more remarkable is the fact that, for the first time in the City's 55-year history, we have achieved a surplus. This surplus is a testament to the hard work and dedication of our staff, who have diligently worked towards this goal.

The total General Fund operating expenditures for Fiscal Year 2023-2024 are projected to be $120.7 million. This budget reflects our commitment to providing essential services and investing in the future of our community. Looking ahead, we are pleased to announce a projected surplus for the next fiscal year. This surplus will enable us to further enhance our services, address community needs, and invest in key initiatives that will benefit our residents and businesses.

Furthermore, we are proud to share that the City of Carson already has a robust General Fund reserve of $108 million. This reserve serves as a testament to our prudent financial management and provides a strong foundation for future growth and unforeseen circumstances.

Mayor Lula Davis-Holmes expressed her enthusiasm for this historic achievement, stating, "I am incredibly proud of our City and the hard work that has gone into achieving a structurally balanced budget and surplus. This milestone is a demonstration to the dedication and commitment of our City Council, staff, as well as the support and cooperation of our community. Together, we are building a stronger and more prosperous future for the City of Carson."

The structurally balanced budget, surplus projection, and substantial General Fund reserve reflect the City Council's commitment to fiscal responsibility and ensuring the well-being of our community. These financial achievements will enable us to continue providing high-quality services, investing in infrastructure, and fostering economic growth. This achievement would not have been possible without the support and cooperation of our community and our residents.