Santa Monica Weighs Fiscal Distress Vote Amid Sex Abuse Settlements

Santa Monica, California officials are voting on whether to adopt a resolution declaring fiscal distress, as mounting sexual abuse settlements have destabilized the city’s finances, echoing strains that have already pushed other local governments deeper into debt.A report prepared by Santa Monica’s acting city attorney said that the affluent coastal enclave projects a structural deficit that could persist for years as decreased revenue and increased liabilities continue to weigh on its budget. The budget im ...