San Diego, CA (PRWEB) November 28, 2012
SD Accounting Firm shares its opinion on the supposed surplus on the budget for the next five years projected by the city administration.
San Diego’s Independent Budget Analyst (IBA) doubts Mayor Sanders’ surplus claims in the budget he released and even projected that in five years, these surpluses would turn into deficits. Jay Goldstone, chief operating officer in SD, responded that the budget released was a mere estimate, and he admitted that a lot of other factors were overlooked and could eventually change the tides. Read the news articles: http://fox5sandiego.com/2012/11/21/mayors-projected-budget-surpluses-questioned/ and http://www.kpbs.org/news/2012/nov/20/san-diego-independent-budget-analsyst-predicts-def/
SD Accounting Firm is grateful for the needed bubble-burst by the IBA. Upon the release of the budget, there were questions raised as to the why the surplus had been so quickly estimated. Then there were claims of higher pensions and a higher budget allocation for the arts in the following years. However, SDAF also agrees with Jay Goldstone’s statement. A five-year budget is hard to manage, now that the economy is erratic, and there are more and more factors to consider regarding budget allocations. With the city’s budget still yet to be solidified SDAF asks local businesses to take a look at their annual budgets and ask themselves what may have been left out or overlooked such as fees for credit card processing services, charity donations, and emergency expenses.
San Diego’s Independent Budget Analyst started on November 2, 2004, when the local government of San Diego switched its form of government and a proposition was made to create a body whose sole purpose was to check and analyze the proposed budget released by the Mayor’s Office. The office was made permanent on June 3, 2008.
SD Accounting Firm today expressed its opinion on the recently released Proposed Budget by the Office of the City Mayor and agrees that it is in fact too early to be excited about the news of the surplus. There are still many factors that could affect the surplus predictions.
SD Accounting Firm is a group dedicated to bridging the gap between accountants and clients, providing them accounting needs and giving out information about accountancy.