Irvine leaders overspent by $6 million in the past fiscal year and are now facing an uncertain fiscal future, with city staff privately warning council members the problem is only set to get worse in coming years.
It’s the first time Irvine has faced any issues balancing its budget in years, having received dozens of awards for its budget in recent years, including one survey that found them to be the most fiscally stable city in America in 2021.
On Tuesday, council members are set to discuss instituting a hiring freeze and whether or not they should start surveying voters about possibly raising their sales tax.
What’s Driving the Increased Costs?
The overshoot also comes as the city’s taken on a series of massive projects in recent years, including the buyout of the All American Asphalt plant on the edge of Orchard Hills and the invention of the city’s own library system…