Welcome to the City of Santa Monica Finance Department

The mission of the Finance Department is to provide sound business, financial and risk management support to internal and external customers, ensuring continuation of public services to the residents, visitors and businesses of Santa Monica through the protection of financial resources.

Santa Monica's geographic location and its diversified tax revenue base allows the local economy to weather fluctuations with minimal impact, protecting the City from downturns that impact one or a limited number of sectors of the economy. The City continues its long history of adopting balanced budgets and maintains healthy reserves to protect itself from shock losses. Prudent financial management has earned the City a AAA bond rating since 1995, and clean audits for over 30 years.

Headlines

Council approves $45M payment towards unfunded liability

Learn about Santa Monica retirement costs in the Pension Overview and read the Report to Council.

FY 2017-19 Proposed Budget

Click here for the City's proposed biennial budget, which Council reviewed during study sessions on May 23 and 24, 2017 and will adopt at the budget hearing on June 27, 2017. Send your comments to councilmtgitems@smgov.net, or attend and speak at the meetings.

Sales Tax Changes

Santa Monica’s sales tax rate is 9.75% as of April 1. The Sales Tax page contains a 2017 sales tax rate schedule and explanation of rate changes.

Marijuana Licensing Update

The City will not be accepting applications for any cannabis-related businesses until further notice. Click here for more information.

Transparency

Santa Monica is committed to transparent financial management. View the City's credit ratings, recent financial status updates, and additional financial data.