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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 />jrin¢ Recessions and Recoveries: Job <br />Ten-Year Financial Perspective <br />CITY COUNCIL MINUTES 15 SEPTEMBER 19, 2011