Financial Strength

By Scott Malsin

While Culver City is weathering the economic downturn better than many American cities, Scott is focused on surmounting the challenges that connect us all.

Combined, sales and business taxes historically have comprised nearly 40% of the City's revenue stream. Property taxes account for less than 5%! "With the national economy in the midst of a major downturn, Culver City needs to capitalize on our well-deserved reputation as a great place to live and work."

"Westfield's shopping center is a tremendous positive for Culver City, and I think it will outperform our expectations. However, because of changing industry conditions, Culver City has lost auto dealerships which provided a significant portion of our revenue. We need to step up our business recruitment and retention efforts to continue attracting the high-quality, low-impact businesses that will support our high-quality services and add to our quality of life."

From Westfield Culver City to the Independent Video Game Festival, from furniture stores in the Helms and Smiley-Blackwelder districts to downtown restaurants, and from art galleries to media firms, Scott has proven that he can deliver for Culver City.

Costs

Leaving aside increased staffing levels in operations that are self-funded or paid for by outside agencies (e.g. bus drivers, housing programs staff), the City's employment levels are the same as they were more than a decade ago. Meanwhile, Culver City is saddled with enormous underfunded benefit obligations accrued over many years, and pension and medical costs continue to rise.

"Having been through our budget from top to bottom many times since 2006, I know that it will be difficult to find significant ways to reduce our costs while still keeping service levels high. However, we will continue seeking ways to serve our community more efficiently. We've got a great Council and great employees, and we'll continue to work collaboratively to keep Culver City strong."

Scott helped develop the City's first comprehensive strategy to start pre-funding its benefit obligations. He will never compromise when it comes to the quality of service the City provides. He has the trust and confidence of our management and employees. He has always + and will always + manage Culver City's finances with unmatched knowledge and uncompromising diligence.

Stability

Unlike many cities, Culver City has a strong reserve fund - the City's "savings account." Scott has fought to protect those savings, and he will not rely on them in the hope that the City's financial position will improve. "We must not use our reserve funds to pay for the City's regular operations. Culver City must continue to live within its means.