I am proud of the efforts the County of Marin has taken, and continues to make, to produce a balanced and structurally sound budget. As your County Supervisor, maintaining fiscal stability through a transparent budget process is a priority of mine.
Over the past several years, the County has taken several actions to bring our budget into balance. Because of our efforts we have a AAA bond rating from all three of the major credit rating agencies: Fitch, Standard & Poors and Moody's.
To share a few of our budget accomplishments – the County has:
- Cut ongoing expenses by over $30 million
- Reduced our workforce by approximately 10%
- Adopted a lower-cost retiree health plan for new employees in 2008
- Negotiated lower pension tiers for new miscellaneous employees in 2011
- Implemented the Public Employees' Pension Reform Act of 2013
- Established an Other Post-Employment Benefits (OPEB) trust - setting the County on a path to fully fund its retiree health costs over a 30-year period
- Over the past five years, reduced our unfunded retiree liabilities by over $200 million
The 2017-18 County budget was approved on June 20, 2017 with a focus on strategic planning, paying down retiree liabilities, investing in roads and facilities, investing in technology, boosting customer service and enhancing safety net services such as mental health and homeless programs.
We are working to close a projected $5 million gap in the 2018-2020 budget. The sacrifices amount to about 1.5 percent of the total budget. We conducted budget workshops in March and a proposed 2018-2020 budget will be presented to the Board of Supervisors in June for adoption.
County budgets for fiscal years 2000 through 2018 are available on the County website, here. Under each annual budget, you will also find a “Budget-in-Brief” which provides a high-level overview of the budget and is a great tool for those wanting a quick preview.