Solange and Steve Altman: Modesto is solvent now, and we want to keep it that way

Modesto’s new mayor has big shoes to fill. Mayor Garrad Marsh was a very capable mayor who accomplished much in his tenure. Under his leadership, Modesto achieved a truly balanced budget where revenues equaled expenses. It has been more than 20 years since Modesto was in this position.

Pensions were reformed. Modesto city employees agreed to fully pay for their pension share. Modesto is one of the few cities in California to have achieved this milestone. Retiree health benefits were reformed. In two years Modesto reduced retiree liability by 70 percent, from $104 million to $31 million.

These financial reforms were achieved because of agreements reached with city employee labor unions. Mayor Marsh understood the magnitude of the concessions made, and in an effort to raise revenues to hire more police supported a measure to increase sales taxes. He contributed more than $15,000 of his own money to the campaign.

Our new mayor believes he can find more money in the existing budget to hire more police. We hope he can convince the major supporters of his campaign that a sales tax increase is needed, so Modesto can remain solvent and secure. We don’t want to end up like Stockton.

This story was originally published February 29, 2016 at 5:50 PM with the headline "Solange and Steve Altman: Modesto is solvent now, and we want to keep it that way."