By Darrell Jackson | Glendale Star
As the council begins its annual budget preparation, councilmembers heard their first update on the city’s financial stability and improvements during recent workshops.
Despite reports that show the general fund balance beginning to decline around 2023, staff said they are upbeat about the city’s improved financial issues and expect it to outperform forecasts of any declining stability.
Staff presented the first five-year forecast during a recent workshop that includes numerous expected increases to public safety pensions, along with reduced payments on debt of Gila River Arena, University of Phoenix Stadium and Camelback Ranch-Glendale.
