Budget Balancing Strategies
Restructuring to Sustain City Budget
Over the past several years, the City Council has always adopted a balanced budget by July 1, even though it has proven not to be sustainable in the long term. Over time, the community has endured service cuts, while the City organization has reduced its staffing and labor groups have agreed to wage concessions. The City has taken steps to deal with sustaining its budget.
Here are four major strategies the City has implemented:
- Reduction in overall employee compensation expenses
Such as salary reductions; increased employee contributions toward retirement; and introduction of lower cost pension and health care plans for new employees.
- Transition to alternative service delivery models
Such as exploring contractual relationships with a private sector vendor, nonprofit, or other local jurisdiction; examining consolidation of services with other cities or the County; and transferring some duties from sworn public safety staff to civilians.
- Revenue enhancements
- Reduction or elimination of services to the community
Achieving financial sustainability is a concerted effort the City Council and City staff are addressing through a multi-pronged approach. View
our fiscal sustainability brochure to learn more about our efforts to move Fremont forward.
City Financial Information
Silicon Valley Index
The Silicon Valley Index
is a nationally recognized publication that has been telling the Silicon Valley story since 1995. Released by Joint Venture and the Silicon Valley Community Foundation every February, the indicators measure the strength of our economy and the health of our community—highlighting challenges and providing an analytical foundation for leadership and decision making.