A substantial budget with two known challenges, Foster City

The Daily Journal, Samantha Weigel, 6/15/15.  "Foster City remains fiscally sound: Budget surplus expected to grow, millions in infrastructure improvements remain."

Think quarry development: "traffic",
and "all those toilets flushing
at that same time". No development,
$0 City services and revenue.

Dragon boat races, whereas
we have NIMBY dragons.

A City with a plan... remember
our City had a plan once upon a time.

.... “We’re once again on a balanced budget and finances seem to be strong going for the next five years based on forecasts,” Vice Mayor Gary Pollard said. “But a couple things we’re looking at is obviously how we’re going to generate the money for the wastewater treatment plant … and the levee, which we know is a work in progress. But those are two big items that we’re trying to get ahead of the curve the best way we can.”

....  Foster City is responsible for $116 million, its portion of the wastewater treatment plant project that services San Mateo, Hillsborough and a few other agencies. The city is also bound by orders to improve its levees passed down by the Federal Emergency Management Agency. A recent study about the city’s flood control infrastructure estimated raising the current 2.5-foot levees up to 5.5 feet in some areas could cost upwards of $75 million, according to a staff report. Councilman Herb Perez said while the expense is huge, he anticipates funding such critical projects may require bonds.

Currently, Foster City doesn’t have any outstanding bonds or debt, Finance Director Edmund Suen said.City officials have also continued to set aside funds to sufficiently account for employee and pension liabilities, Suen and Perez said.“One thing we do well as a city is we fund capital improvement projects 10 years out and we fund all of our liabilities years out,” Perez said.  Read article.

Reference - City of Foster City.  City-Data.com. Wikipedia.

Note Foster City photographs:  City map from Burlingame properties/Foster City. Dragon boat races in Foster City from Oakland Renegades Dragonboat team. City residential and commercial view from Movoto Real Estate. 

Posted by Kathy Meeh