The pension funded ratio compares actuarial assets to actuarial accrued liabilities. High ratios indicate a well-funded plan with assets sufficient to cover liabilities. Lower ratios may indicate poor asset performance, recent changes to actuarial assumptions such as reductions to the assumed rate of return, or a variety of other factors.

The County Assessor prepares the local roll of taxable property each year which reports the assessed values of real and personal property (secured and unsecured property). Growth in assessed value can be impacted by changes in the real estate market such as changes in ownership, new construction and inflation.

Needs Assessment

Active/Funded/Completed Projects

Net Pension Liability (NPL) is a financial metric reported in the County’s Comprehensive Annual Financial Report (CAFR) which represents the value of retirement benefits that exceed resources available to fund them. The NPL differs from the UAAL in that it compares total pension liability and market value of assets. Only the County’s share of the NPL is reported in the CAFR.

The debt ratio shows the County's debt in relation to the revenues each year. This ratio is calculated by comparing annual principal and interest payments on long-term obligations of the General Fund to budgeted General Fund revenue. The limit, as set in the County's Administrative code, is set at 5%.

Data set which aligns multiple County of San Diego financial metrics to activities, programs, and process measures which ultimately drive the enterprise’s fiscal stability. The County measures fiscal stability by maintaining a high credit rating.

Pensions represent an important component of the County’s long term financial obligations. It is important to measure changes in the pension liability so that the County can best plan for the long-term.

The size, diversity, and strength of a local government’s tax base impact its ability to generate financial resources. Changing economic conditions - including changes in the real estate market - impact the county's revenue and workload, along with the strategies used to manage the public's resources. Changes in the real estate market directly impact the County's general purpose revenue, the Board of Supervisor's only source of discretionary spending.

At the heart of the County's stability - even in times of uncertainty - is its fiscal discipline and systemic financial planning and monitoring. It is important for the County to have strong fiscal management to ensure the County can continue to provide core services and the mix of other services sought by members of the public.