{"id":21806,"date":"2024-02-17T11:03:47","date_gmt":"2024-02-17T18:03:47","guid":{"rendered":"https:\/\/peninsula360press.com\/?p=21806"},"modified":"2024-02-17T11:03:47","modified_gmt":"2024-02-17T18:03:47","slug":"san-mateo-faces-loss-of-income","status":"publish","type":"post","link":"https:\/\/peninsula360press.com\/en\/san-mateo-faces-loss-of-income\/","title":{"rendered":"San Mateo County faces revenue loss amid increased needs"},"content":{"rendered":"
\"San
Leaders have said San Mateo County is facing revenue losses, noting that the situation could threaten vital safety net services, So, with no resolution in sight midway through fiscal year 2023-24, County Executive Mike Callagy recommended that the Board of Supervisors hold a special study session on a looming issue that could also impact future spending plans.<\/span><\/figcaption><\/figure>\n

For months, the leaders of the the San Mateo County Board of Supervisors<\/a> have expressed concern about the potential loss of a key source of revenue, saying the situation could threaten vital safety net services, so with no resolution in sight midway through the 2023-24 fiscal year, County Executive Mike Callagy recommended the Board of Supervisors hold a special study session on a looming issue that could also impact future spending plans.<\/span><\/p>\n

\u201cWe are short $69 million,\u201d Callagy said during the Board of Supervisors\u2019 regular meeting scheduled for next Tuesday. \u201cThis is something we are working on with our (state) legislators. That would be a huge blow to this county, and it only grows every year.\u201d<\/span><\/p>\n

The potential shortfall is fueled by possible cuts in what are known as vehicle licensing fees in lieu, or VLF, a form of property tax on motor vehicle ownership.\u00a0<\/span><\/p>\n

Under a long-standing agreement, cities and counties receive additional property taxes from the state to replace revenue that was cut under a two-decade-old budget deal.<\/span><\/p>\n

The latest state budget proposal released by the governor's office in January does not include full funding for VLF. This could also pose a threat to the budgets of local cities that also receive that type of revenue.<\/span><\/p>\n

\u201cThis will impact public safety and the direct services that cities and the county provide to our most needy population if it\u2019s not funded by the state,\u201d Callagy said. \u201cAnd we certainly believe that the state owes us that.\u201d<\/span><\/p>\n

San Mateo County local governments could face a loss of more than $114 million before the fiscal year ends on June 30, 2024.<\/span><\/p>\n

Supervisors expressed concern for the area's most vulnerable residents.<\/span><\/p>\n

\u201cOur continued focus must be on expanding opportunities for all, and that starts with ensuring we have a robust array of programs and services to meet the needs of individuals and families,\u201d said Warren Slocum, Chairman of the Board of Supervisors.<\/span><\/p>\n

\u201cOur residents want to make ends meet, put food on the table, pay for college, save for retirement. It\u2019s our job as elected officials,\u201d Slocum added, \u201cto work with our partners across the state to ensure we can continue to fund vital services that help all of our residents achieve their goals.\u201d<\/span><\/p>\n

A special study session is expected to be scheduled shortly.<\/span><\/p>\n

News of the projected VLF deficit comes amid a number of growing financial concerns.<\/span><\/p>\n

At the February 14 Board meeting, Callagy and Chief Financial Officer Robert Manchia presented the Fiscal Year 2023-24 Mid-Year Budget Update, a snapshot of the economic and demographic trends driving both the need for services and the revenue available to pay for them.<\/span><\/p>\n

With the end of the COVID-19 public health emergency, the county has shifted \u201cits focus from pandemic response and recovery to long-term strategic planning,\u201d the report said.<\/span><\/p>\n

The document also describes \u201ccontrasting trajectories\u201d for key economic indicators. It says unemployment overall remains low, while the cost of goods and services is rising for everyone, and median household income is moving in different directions for certain demographic groups.<\/span><\/p>\n

However, median household income has declined for Black or African American households (10.2 percent from 2021 to 2022). There are significant disparities between the median household incomes of Native Hawaiians and Pacific Islanders and certain other demographic groups (41.8 percent of Asian household incomes, for example).<\/span><\/p>\n

Of note, the rising cost of living (3.4 percent increase in consumer prices from December 2022 to December 2023) and obstacles to finding affordable housing pose challenges for many.\u00a0<\/span><\/p>\n

A search for a one-bedroom apartment shows current rents of more than $2,800 in both Redwood City and San Mateo. So an income of about $100,000 a year is needed to afford such an apartment, according to a commonly used \u201c30 percent rule,\u201d which says people should spend no more than 30 percent of their gross income on rent.<\/span><\/p>\n

The report states that \u201cdemographic trends indicate an aging population on relatively fixed incomes struggling to keep pace with rising costs. If this trend continues, there may be increased demand for County services to address these evolving needs.\u201d<\/span><\/p>\n

You may be interested in:<\/strong> Ask candidates for District 16, they organize a forum in Half Moon Bay<\/a><\/em><\/p>","protected":false},"excerpt":{"rendered":"

Durante meses, los l\u00edderes del condado de San Mateo han expresado su preocupaci\u00f3n por la posible p\u00e9rdida de una fuente clave de ingresos, diciendo que la situaci\u00f3n puede amenazar servicios vitales de la red de seguridad, por lo que, sin una resoluci\u00f3n a la vista a mitad del a\u00f1o fiscal 2023-24, el ejecutivo del condado, […]<\/p>","protected":false},"author":7,"featured_media":15336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,14],"tags":[],"class_list":{"0":"post-21806","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-community","8":"category-cover"},"_links":{"self":[{"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/posts\/21806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/comments?post=21806"}],"version-history":[{"count":1,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/posts\/21806\/revisions"}],"predecessor-version":[{"id":21808,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/posts\/21806\/revisions\/21808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/media\/15336"}],"wp:attachment":[{"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/media?parent=21806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/categories?post=21806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peninsula360press.com\/en\/wp-json\/wp\/v2\/tags?post=21806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}