Over the past several years, Atherton’s City Council has managed its finances in a fiscally conservative manner. Rick is committed to continuing this practice. The Council has reduced its long term pension and healthcare liabilities through a combination of smart negotiations with Town staff and a series of payments to reduce the overhang of the Town’s unpaid, long term liabilities. This, in combination with a steady improvement in housing values and a resulting increase in property tax revenue, has enabled the Town to generate an operating surplus in each of the past several years. The Town did borrow $7M to build the new Town Center, but as this and the unpaid portion of the long term liabilities is paid down, the Town will be in a position to make significant infrastructure investments. Rick Supports this conservative fiscal management and focus on capital improvement investments, so long as the priorities for such investments are driven by resident input.
I am pleased to report that in the past year, the Council has worked hard to mangae expenses and revenue in a responsible manner. It is essential that the council continue to adhere to principles of prudent, conservative fiscal management. We still have to address issues of outstanding unfunded liabilities and there are important long-term contracts to be renewed, which will have a big impact on our liabilities of the future. We need Council members who will manage our cost obligations prudently.