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• Conducted benchmarking to compare Santa Ana to other cities <br />(Anaheim, Chula Vista, Fremont, Long Beach, Riverside, <br />Sacramento ) <br />• Created forecasting model and used financial data to develop <br />projections <br />• Worked collaboratively with Finance staff and the EMT <br />Financial Environment <br />• Recession hit Santa Ana hard <br />• Home prices decreased <br />• Unemployment went up, remains above 14% <br />• Personal income has dropped <br />• National economy is weak <br />• State continues to take funding away <br />• Santa Ana's revenues are below the median <br />Impact of Great Recession <br />trine Recessions and Recoveries: Job <br />investment <br />Revenuesf <br />5900 <br />SHOO <br />$700 <br />$600 <br />$510 <br />$500 AW NE <br />x <br />Asa gg <br />5400 <br />G Y$ <br />5300 <br />? � <br />Q <br />Y <br />5200 { <br />5100 �, �`• N wax <br />$o : r... <br />Riverside <br />'er Capita <br />$546 $563 <br />s <br />y <br />Chula Vista Fremon <br />Ten -Year Financial Perspective <br />CITY COUNCIL MINUTES <br />• 2007 -09 Recession impact is still <br />being felt <br />• The "Great Recession" was worst <br />economic contraction since 1930's <br />• Local government <br />disproportionately impacted by <br />decline in retail sales, real estate <br />and CaIPERS return on <br />5695 <br />e <br />� � F <br />�F <br />R <br />t� M..,y9�' <br />Sacramento San la Ana Anaheim <br />15 <br />1 0A -15 <br />$82:t <br />I. $637 <br />g s'. <br />N <br />� a• <br />IMMs <br />Long Beach Average <br />SEPTEMBER 19, 2011 <br />