through Fiscal Year 2021 is forecasted after that.

The Financial Outlook didn't factor in recent changes by the independent pension board that will increase the City's annual pension payment. On Friday, the same day the Financial Outlook was released, the board of the San Diego City Employees' Retirement System voted to change financial assumptions, which will likely lead to an increase of millions of dollars to the next year's pension payment. Mayor Faulconer has called on the City Council to approve a pension stabilization reserve to help absorb these increased costs and reduce impacts to neighborhood services.

The Financial Outlook projects the extra dollars available for infrastructure and neighborhood investments on top of what is currently budgeted will more than double - from $41.6 million in Fiscal Year 2017 toFinance Minister Naoto Kan, a fiscal conservative with an image as a challenger to the status quo, was elected as Japan’s next premier on Friday, as the ruling party tries to repair its fortunes ahead of a national election.Kan, 63, will become Japan’s fifth prime minister in three years, taking the helm as the country struggles to rein in a huge public debt, engineer growth in an ageing society, and manage ties with security ally Washington and a rising China. The Democratic Party of Japan picked Kan by an overwhelming majority to succeed unpopular Prime Minister Yukio Hatoyama, who quit this week ahead of an upper house poll expected in July that the ruling bloc needs to win to avoid policy deadlock. He was later voted in by