FY 2026
Budget Adoption
Julie Kennicutt
Deputy Finance Director
June 4, 2025
Kim Sitton
Finance Director
AGENDA
FY 2026 Proposed Budget Overview
01 Total – All Funds
02 03
Enterprise Funds
Proprietary Funds
General Fund
General Fund Forecast
2 Total
All Funds
3 Revenue Estimates All Funds
FY 2026 Estimated $523.3 Million
4 Governmental Funds
General Fund $ 239,929,502
Special Revenue 30,288,138
Capital Projects 51,292,912
Subtotal 321,510,552
Proprietary or Business Type
Enterprise 147,563,707
Internal Service 37,604,395
Subtotal 185,168,102
Fiduciary Funds
Agency Funds 7,846,690
Private Purpose Trust 8,775,244
Subtotal 16,621,934
Total $ 523,300,587
Governmental Funds
$321.5
61.4%
Proprietary or Business Type
$185.2
35.4%
Fiduciary
$16.6
3.2%
Expenditures All Funds
FY 2026 Proposed $456.3 Million
5 Governmental Funds
$263.7
57.8%
Proprietary or Business Type
$182.8
40.1%
Fiduciary Funds
$9.8
2.1%
Governmental Funds
General Fund $ 231,048,907
Special Revenue 29,299,464
Capital Projects 3,397,173
Subtotal 263,745,544
Proprietary or Business Type
Enterprise 148,422,703
Internal Service 34,349,897
Subtotal 182,772,600
Fiduciary Funds
Agency Funds 7,460,967
Private Purpose Trust 2,318,262
Subtotal 9,779,229
Total $ 456,297,373
Proprietary Funds
Enterprise Funds
6 Proprietary Funds
Enterprise Funds
• Programs or activities that are supported
by rates and/or fees.
• May also include grants or
reimbursements from other governmental
agencies.
Water
Reclaimed Water
Sewer
Electric
Airport
Transit Services
$-
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
$80.0
FY 2022
Actuals
FY 2023
Actuals
FY 2024
Actuals
FY 2025
Estimate
FY 2026
Estimate
Revenue Operating Budget O&M Projects CIP
Water Utility
8 Fiscal Year 2026 breakdown:
Revenue $71.1M
Operating $58.4M
O&M Projects $4.2M
CIP Projects $5.5M
Projected Fund Balance $2.9M
$71.1
$68.1
$65.3 $66.2
$69.9
$61.8 $63.1
$77.3
$61.2
$58.1
$-
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
$45.0
$50.0
FY 2022
Actuals
FY 2023
Actuals
FY 2024
Actuals
FY 2025
Estimate
FY 2026
Estimate
Revenue Operating Budget O&M Projects CIP
Sewer Utility
9 Fiscal Year 2026 breakdown:
Revenue $39.9M
Operating $35.1M
O&M Projects $4.2M
CIP Projects $6.2M
Projected Fund Balance $9.4M
$39.9
$45.5
$36.8
$45.5 $45.7
$37.1
$38.2
$35.3 $36.9
$30.5
General Fund
10 General Fund Inflows – FY 2026 Estimated $241.3 Million 11 FY 2022
Actuals
FY 2023
Actuals
FY 2024
Actuals
FY 2025 Adopted
Budget
FY 2025
Estimate
FY 2026
Estimate
Transfers In 1.2 1.1 1.3 1.3 8.5 1.4
Revenue 415.3 220.5 234.3 225.5 225.1 239.9
Total Inflows 416.5 221.6 235.6 226.8 233.6 241.3
$416.5
$221.6
$235.6 $226.8
$233.6 $241.3
$-
$100
$200
$300
$400
$500
$0
$22
$43
$65
$86
$108
$129
$151
$172
$194
$215
$237
$258
Millions
Sales Tax
Prop Taxes
Other Taxes
Current Services
Other Revenues
Investment Earnings
Payment in Lieu
Intergovernmental
Licenses, Fees & Permits
Transfers In
Fines, Penalties & Forfeitures
Special Assessments
General Fund Inflows – FY 2026 Estimated $241.3 Million These 5 categories make up
89.5% of General Fund
Inflows
12 General Fund Inflows
Year Over Year Comparison
13 Totals Inflows Estimated Estimated
Revenues + Transfers In FY 2025 FY 2026
Property Tax $ 65,736,729 $ 68,469,800 $ 2,733,071
Sales Tax 57,032,920 58,052,863 1,019,943
Sales Tax - Measure X 41,017,251 42,154,449 1,137,198 Other Revenue 11,357,256 18,372,039 7,014,783
Other Taxes 15,725,589 16,144,202 418,613
Current Services 12,660,060 12,776,042 115,982
Payments in Lieu of Services 7,773,943 8,025,354 251,411 Intergovernmental Revenue 5,134,683 3,027,163 (2,107,520) Investment Earnings 4,322,838 8,513,667 4,190,829
Licenses, Fees & Permits 2,386,695 2,408,480 21,785
Fines, Forfeitures & Penalties 1,172,461 1,197,981 25,520 Special Assessments 780,498 787,463 6,965
Total Revenues $ 225,100,922 $ 239,929,502 $ 14,828,580 Transfers In $ 8,511,453 $ 1,361,138 $ (7,150,315)
Total Inflows $ 233,612,375 $ 241,290,640 $ 7,678,265 Increase in Measure X Sales Tax
Increases across all categories: Transient Occupancy Tax, Franchise Fees, Business License Taxe, and Cannabis Tax
Primary incrase is from the Sale of Surplus Property
Decreases of $1.6M in Fire Mutual Aid Reimbursement, $250K in Federal Grant Revenue, $130K in State Grant Revenue, $100K in Motor Vehicle in Lieu, and $45K in Revenue from other Government Agencies
Various increases and decreases throughout the various fees Variance Comments
Primarily increases in Secured Property Tax and Vehicle License Property Tax Increases of $900K in Sales Tax and $100K in Prop 172 Allocation Based on number of units within special assessment areas Increase in Reimbursement for Services to Other Funds (Cost Allocation Plan) Decrease is primarily from the one-time transfer for ARPA funds Increase in Interest on Investments
Various increases and decreases throughout the various fees Increases of $16K in Admin. Fines & Penalties, $5K in Vehicle Code Fines, $3K in Parking Fines, and $2K in Business License Penalties
General Fund Expenditure Budget
FY 2026 Proposed $231.0 Million
14 Administrative
$24.6
10.6%
Public Safety
$105.0
45.5%
Community Service
$36.7
15.9%
Capital Improvement Projects
$4.6
2.0%
Debt Service
$24.1
10.4%
General Government
$36.0
15.6%
General Fund
City Manager's Office $ 10,256,989
Economic Development 1,784,936
Elected Officials 216,878
Finance 5,650,482
Human Resources 3,225,556
Information Technology 760,962
Legal & Risk Management 2,701,159
Administrative Departments 24,596,963
Fire 39,824,536
Police 65,213,574
Public Safety Departments 105,038,110
Community Services 20,065,379
Planning & Development 10,214,174
Public Works 6,381,058
Community Service Departments 36,660,611
Capital Improvement Projects 4,617,802
Debt Service 24,088,167
General Government 36,027,254
Operating & Maintenance Projects 20,000
Other 64,753,223
Total Operating Budget $ 231,048,907
General Fund Operating & CIP Budget
FY 2026
15 Department Personnel Contractual
Materials and
Supplies
Utilities Projects Grand Total
% of
Total
City Manager's Office $ 4,184,976 $ 5,710,926 $ 351,240 $ 9,848 $ - $ 10,256,989 Economic Development 1,050,724 582,525 148,187 3,500 - 1,784,936 Elected Officials 187,320 - 25,500 4,058 - 216,878
Finance 4,678,077 926,015 46,390 - - 5,650,482
Human Resources 2,431,586 456,600 336,870 500 - 3,225,556 Information Technology 161,362 599,000 600 - - 760,962
Legal & Risk Management 2,446,994 233,050 18,895 2,220 - 2,701,159 Subtotal Administrative Departments 15,141,040 8,508,116 927,682 20,126 - 24,596,963 10.6% Fire 36,356,429 630,148 2,789,394 48,565 - 39,824,536
Police 56,508,078 1,749,899 6,808,242 147,354 - 65,213,574 Subtotal Public Safety 92,864,507 2,380,047 9,597,636 195,919 - 105,038,110 45.5% Community Services 10,022,300 4,425,024 5,430,867 187,188 - 20,065,379 Planning & Development 7,652,846 2,035,207 516,521 9,600 - 10,214,174 Public Works 4,272,295 890,000 1,208,563 10,200 - 6,381,058 Subtotal Community Service Departments 21,947,441 7,350,231 7,155,951 206,988 - 36,660,611 15.9% Capital Improvement Projects (CIP) - - - - 4,617,802 4,617,802 Debt Service - 10,163 24,078,004 - - 24,088,167
General Government 11,351,336 1,583,429 18,545,212 4,547,277 - 36,027,254 Operating & Maintenance Projects (O&M) - - - - 20,000 20,000 Subtotal Other 11,351,336 1,593,592 42,623,216 4,547,277 4,637,802 64,753,223 28.0% Grand Total $ 141,304,324 $ 19,831,986 $ 60,304,485 $ 4,970,310 $ 4,637,802 $ 231,048,907 % of Total 61.2% 8.6% 26.1% 2.2% 2.0%
Economic
Development
1.2%
Public Safety
38.4%
Service Improvements
12.0%
Proactive Debt
Retirement
14.3%
Homelessness
12.8%
Infrastructure Investments
7.6%
Parks & Recreation
10.5%
Community Building/Engagement
3.3%
Measure X FY 2026 Investment Plan
16 Category
FY 2026
Rec urring
FY 2026
One-Time
Total
FY 2026
Funding
FY 2026
Reserv es
Ec onomic Dev elopment $ 534,762 $ - $ 534,762 $ -
Public Safety 17,089,356 115,000 17,204,356 -
Serv ic e Improv ements 5,375,177 - 5,375,177 -
Proac tiv e Debt Retirement 4,380,439 - 4,380,439 2,000,000 Homelessness 5,714,343 - 5,714,343 -
Infrastruc ture Inv estments 897,935 2,495,000 3,392,935 - Parks & Rec reation 2,765,276 1,727,802 4,493,078 187,679 Community Building/ Engagement 1,432,031 48,190 1,480,221 - Totals $ 38,189,318 $ 4,385,992 $ 42,575,310 $ 2,187,679 FY 2026 Grand Total: Total FY 2026 Funding + FY 2026 Reserves $ 44,762,989 One-Time
9.8%
Recurring (New)
1.8%
Recurring
83.5%
Reserves
4.9%
Measure X FY 2026 Investment Plan
Reserve Funds ($2.2M)
Parks/Trails Reserve Fund ($0.2M)
Pension Trust Reserve Fund ($2.0M)
17 General Fund Financial Forecast
FY 2026
18 Actuals Adopted Amended Forecast Forecast Forecast Forecast Forecast FY 2024 FY 2025 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 Rev enues $232,686,921 $225,495,955 $ 225,100,923 $239,929,502 $238,633,323 $ 243,974,035 $ 249,646,354 $ 254,744,197 Operational Rev enues City Park - - - - - 537,167 1,611,500 1,627,600 Transfers In 1,289,243 1,305,451 8,511,453 1,361,138 1,388,361 1,402,200 1,416,200 1,430,400 Inflows 233,976,164 226,801,406 233,612,376 241,290,640 240,021,684 245,913,402 252,674,054 257,802,197 Personnel Expenditures (111,129,468) (126,522,597) (127,456,817) (141,304,323) (148,572,498) (154,213,882) (160,275,790) (165,109,464) Operating Expenditures (54,515,511) (59,679,280) (57,681,287) (61,018,614) (61,430,800) (61,339,900) (62,112,400) (62,553,000) Debt Serv ice / Principal Payments (22,386,117) (23,357,926) (23,357,926) (24,088,167) (23,817,091) (21,877,804) (22,073,052) (22,558,529) Capital Improv ement Projects (10,755,446) (12,000,000) (19,833,537) (4,617,802) (4,000,000) (4,000,000) (4,000,000) (4,000,000) O&M Projects (2,120,145) (176,327) (29,798,609) (20,000) - - - - Transfers Out (666,656) - (13,083) (391,844) - - - -
Pension Trust Contribution (6,050,000) (2,000,000) (2,700,000) (2,000,000) (2,000,000) (2,000,000) (2,000,000) (2,000,000) Debt Serv ice - New Bond Issuance - - - - (2,303,500) (4,607,000) (6,020,750) (6,016,500) Operational Costs City Park - - - - - (579,423) (1,738,270) (1,790,400) Outflows (207,623,345) (223,736,130) (260,841,258) (233,440,750) (242,123,889) (248,618,010) (258,220,261) (264,027,893) Adjustments 963,847 963,847 512,378
Inflows Over Outflows $ 26,352,819 $ 4,029,123 $ (26,265,036) $ 8,362,268 $ (2,102,205) $ (2,704,608) $ (5,546,207) $ (6,225,696) Fund Balance + Measure X Reserves 62,810,793 62,810,793 37,509,604 46,384,250 44,282,045 41,577,437 36,031,230 Reserves - Park Bond 350,000 350,000 475,000
Reserves - Donations and PEG Fees 613,847 613,847 37,378 Remaining Inflows Over Outflows $ 62,810,793 $ 67,803,763 $ 37,509,604 $ 46,384,250 $ 44,282,045 $ 41,577,437 $ 36,031,230 $ 29,805,533 FY 2026
Budget Overview Summary
Revenue Estimates All Funds
FY 2026 Estimated $523.3 Million
20 Expenditures All Funds
FY 2026 Proposed $456.3 Million
21 What’s next?
Fiscal Year 2026 Budget Adoption
June 4, 2025
Fiscal Year 2026 Begins
July 1, 2025
Questions?
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