Borrowing for the future means paying for the past first.
El Cerrito’s Fiscal Snapshot
Bond Rating Update: Upgraded September 9, 2025
Outstanding Pension Liability: Over $80 million (CalPERS)
New Borrowing Planned: Library construction bond, Fall 2025
Untrstricted General Fund Reserves: Below the recommended GFOA target of 15% and City Policy of 17%
Risk: Rising long-term costs despite temporary credit improvement
On September 9, the City of El Cerrito announced its new bond rating — a moment the City Manager quickly highlighted as evidence of progress. But as October unfolds, the City is preparing to borrow money to build a new library while an $80-plus million pension liability looms in the background. That’s a problem we can’t afford to ignore.
During the last four years, the City has not demonstrated that a library is a true priority — yet now it is asking taxpayers to fund one so it can borrow money on behalf of the developer. The developer should be responsible for securing its own financing; it is, after all, their project.
Moreover, El Cerrito is not in a financial position to act as both the anchor tenant and the funding agent for the El Cerrito Plaza development — particularly not through another parcel tax. Residents should not be expected to shoulder long-term debt to subsidize a private development that has yet to prove its public benefit or fiscal sustainability.
There are far more pressing needs: addressing pension costs, rebuilding unrestricted reserves, replacing an aging fire engine, and ensuring police and fire personnel have the tools they need to keep residents safe. These are the investments that strengthen the city’s foundation and protect its future.
A bond rating is not a celebration; it’s a reflection of risk. It signals how investors view our city’s ability to repay debt — not how responsibly we manage the money we already have. The fact that El Cerrito must again rely on borrowing should raise serious questions about priorities and fiscal discipline.
If the City truly wants to demonstrate financial responsibility, it should be using its borrowing capacity to address its $80 million pension liability — not adding new debt for non-essential projects. Paying down long-term obligations would strengthen the city’s fiscal position, reduce future costs, and rebuild public confidence in how taxpayer dollars are managed.
The role of a city manager is not only to execute the council’s policies but also to uphold the public’s trust through proactive, transparent communication. Residents deserve to know how every major financial decision affects our city’s future. The bond rating may look good on paper, but fiscal health is more than a number — it’s about responsibility, sustainability, and honesty.
It’s time to ask: are we building a stronger community, or just a bigger balance sheet?
Residents are encouraged to write to the El Cerrito City Council and ask how borrowing for a new library addresses the city’s $80 million pension liability and long-term fiscal stability. True transparency requires explaining not only what the City plans to build, but also how it plans to pay for what it already owes.
Contact the El Cerrito City Council
📧 Mayor Carolyn Wysinger — cwysinger@ci.el-cerrito.ca.us
📧 Mayor Pro Tem Gabe Quinto — gquinto@ci.el-cerrito.ca.us
📧 Councilmember Lisa Motoyama — lmotoyama@ci.el-cerrito.ca.us
📧 Councilmember Rebecca Saltzman — rsaltzman@ci.el-cerrito.ca.us
📧 Councilmember William Ktsanes — wktsanes@ci.el-cerrito.ca.us
📧 City Clerk (for public comment distribution) — cityclerk@ci.el-cerrito.ca.us
El Cerrito Committee for Responsible Government (ECCRG) 