For Immediate Release

Contact: Joyce Masterson, 760-839-4621

Escondido is NOT facing bankruptcy contrary to paid advertisements in the San Diego Union Tribune, as well as automated telephone calls. These appear to be part of a campaign by one of the parties involved in litigation over the future of the Escondido Country Club property.   

Escondido finances are sound. The City has a balanced budget and maintains a General Fund Reserve in the amount of $16.5 million.  In addition, the City sets separate reserves for all litigation such that litigated cases have little impact on the general fund.