Budget Update
Quarter 2
FY 2026
February 4, 2026
Luis Navarro
Budget Supervisor
General Fund
General Fund, Measure X Fund, Corona Mall Fund, Historic Civic Center Fund, Community Benefit Fund, Pension Stabilization Trust Fund
General Fund Inflows Highlights
Revenues + Transfers In
Sales Tax – Increasing 2.0%, or $0.7 million
Property Tax – Increasing 4.1%, or $1.7 million
Overall, inflows are down 5.5% when compared to the same quarter in FY 2025. • Book Entries = -$12.2 million
• Adjusted for book entries, up by 3.7% compared to the same quarter in FY 2025.
Adjusted for book entries, Quarter 2 is on track with 50% of the year completed and 43.7% of the inflows received.
Esimated Inflows Received: 38.8% (43.7% adjusted for book entries) Current Services – Increasing 17.2%, or $1.2 million
Top 5 Revenues, Compared to Quarter 2, FY 2025
Other Taxes – Decreasing 1.7%, or $0.1 million
Other Revenue – Increasing 0.3%, or $0.01 million
General Fund Mid-Year Changes
Quarterly Budget Update | Quarter 2, FY 2026 | February 4, 2026 General Fund Inflows
Revenue + Transfers In
Budget to Mid-Year Estimates FY 2026
General Fund Inflows Revenues + Transfers In
Mid-Year Estimates to Actuals – December 2026
General Fund Inflows Revenues + Transfers In
Sales Tax – General Fund 110
Quarter Reporting Period
FY 2025
Quarter Total
FY 2026
Quarter Total
Yr over Yr
Qtrly Total
Change $
Yr over Yr
Qtrly Total
Change %
3 rd Quarter July – Sept $15,197,397 $14,899,763 ($297,634) (2.0%) 4 th Quarter Oct – Dec 15,874,577
1 st Quarter Jan – Mar 13,593,232
2 nd Quarter Apr – June 15,394,672
Fiscal Year Total $60,059,878 $14,899,763
Projected FY 2026 $58,580,730
Percentage of estimated revenue received 25.4%
General Fund Inflows Revenues + Transfers In
Sales Tax – Measure X Fund 120
Quarter Reporting Period
FY 2025
Quarter Total
FY 2026
Quarter Total
Yr over Yr
Qtrly Total
Change $
Yr over Yr
Qtrly Total
Change %
3 rd Quarter July – Sept $10,487,861 $10,955,136 $467,275 4.5% 4 th Quarter Oct – Dec 11,356,020
1 st Quarter Jan – Mar 10,282,920
2 nd Quarter Apr – June 11,117,461
Fiscal Year Total $43,244,261 $10,955,136
Projected FY 2026 $43,429,000
Percentage of estimated revenue received 25.2%
General Fund Outflows Highlights
Expenditures + Transfers Out
The cummulative outflow budget is $302.2 million 01
Through December, approximately 50% of FY complete
02 (approximately, due to timing of payments)
Overall outflows % of cumulative budget spent 33.7% 03
<40% Spent: CIP/O&M Projects, City Manager’s Office, Debt Service, Economic Development, General Government, and 04 Information Technology
General Fund Outflows Expenditures + Transfers Out
Budget to Actuals, Quarter 2, FY 2026
Budget
Balancing
General Fund Reserves
The General Fund has multiple reserves in fund
balance for various purposes. For the full list,
please reference the City’s financial statements,
Note 14 (for Fiscal Year Ending June 30, 2025,
page 114). This quarterly update highlights
three of those reserves. FY 2025 audited
amounts are noted in the table.
Emergency Contingency
1 Equal to 3 months of operating expenditures
Adjusted at the end of each fiscal year
2 3
$53,883,396
Reserve for pension related expenditures – debt
service payments for the Pension Obligation
Bonds or the City’s CalPERS unfunded accrued
liability (UAL) contributions.
Pension
Stabilization
$ 54,892,853
Unspent Measure X funds that don’t roll into
next FY will go into the reserve
Reserve amount discussed with Council each
year through the budget cycle
Measure X
Reserves
$13,206,477
Utilities Funds
Electric Funds, Water Funds, Sewer Funds
Utilities Funds
Reclaimed Water Utility
Fund
Sewer Utility Fund
Sewer
Funds
Water Capacity Fund
2025 Wastewater
Revenue Bond
Greenfield Electric
Utility Fund
Electric
Funds
Water Utility Fund
Sewer Utility Grant/
Agreement Fund
Water Utility Grant/
Agreement Fund
2025 Water Revenue
Bond
Sewer Capacity Fund
Direct Access Electric
Utility Fund
Water
Funds
Electric Utility Grant/
Agreement Fund
Utilities Funds Inflows
Revenues + Transfers
Quarter 2 is ahead of projections with 64.4% of the inflows received.
Esimated Inflows Received: 64.4%
Overall, inflows are up 138.6% when compared to the same quarter in FY 2025. • Book Entries = -$1.1 million
• Adjusted for book entries, up by 149%, or $85.7 million, compared to the same quarter in FY 2025. The change in the Investment Earnings category is due to how the City must report the unrealized gains/losses from investments. These are book entries and not actual cash.
↓ 14.4% decrease, $1.4M
↓ Current Services
↑ Fees & Permits
↓ Fines, Penalties & Forfeitures
↓ Intergovernmental Revenues
↓ Investment Earnings
↓ Other Revenue
↓ Utility Service Charges
↑ 154.8% increase, $52.4M
↓ Current Services
↑ Fees & Permits
↓ Fines, Penalties & Forfeitures
↑ Intergovernmental Revenues
↓ Investment Earnings
↑ Licenses, Fees & Permits
↑ Other Revenue
↑ Proceeds from Long Term Obligations
↑ Utility Service Charges
↑ 201.3% increase, $31.6M
↓ Current Services
↓ Fees & Permits
↑ Fines, Penalties & Forfeitures
↓ Investment Earnings
↓ Licenses, Fees & Permits
↑ Other Revenue
↑ Proceeds from Long Term Obligations
↑ Utility Service Charges
Electric Water Sewer
Utilities Funds Inflows Highlights
Quarter 2 Actuals, FY 2025 to FY 2026
Utilities Mid-Year Changes
Quarterly Budget Update | Quarter 2, FY 2026 | February 4, 2026 Utilities Funds Inflows
Revenue + Transfers In
Budget to Mid-Year Estimates FY 2026
Utilities Funds Inflows Revenues + Transfers In
FY 2026, Mid-Year Estimates to Actuals – December 2026
Sewer – 19.5%
Operating budget 39.6% spent
CIP / O&M budget
6.1% spent
Electric – 23.3%
Operating budget 25.2% spent
CIP / O&M budget
11.1% spent
Water – 29.3%
Operating budget 47.0% spent
CIP / O&M budget
13.9% spent
Outflows 25.0% of budget spent:
Utilities Funds Outflows Highlights
Expenditures + Transfers Out
Utilities Funds Outflows Expenditures + Transfers Out
Budget to Actuals, Quarter 2, FY 2026
Emergency Contingency
1 2 3
GOAL $4,901,402
Electric Utility
$1,257,122
Water
Utility
Sewer
Utility
$4,074,328 $1,716,527
Utilities Funds Reserves
The Utilities Funds target reserve amount for each of the operating funds shall be set at ninety (90) days. To build the target reserve amount, the Utilities Department shall annually contribute ten percent (10%) of the difference between actual operating revenues and actual operating expenses for each of the Utilities Department Operating Funds at the beginning of each fiscal year until the target reserve is met. Depending on the fund, it will take time to hit the target reserve amount. If the reserve amount exceeds the target reserve amount, the additional funds shall remain in reserves. The reserve process occurs annually, once the audit and financials are finalized.
GOAL $23,726,374 GOAL $12,817,081
Questions?
(951) 817-5742
[email protected]
www.CoronaCA.gov
Strategic Plan Implementation
Progress Report
Fiscal Year 26, Q2
City Managers Office
February 4, 2026 21
The Plan
• 1 Vision
• 1 Purpose
• 6 Value Statements
• 6 Goals
• 21 Objectives
• 138 Strategic Actions
• 125 Performance Indicators & Milestone
Measures
VISION
Corona will be a safe, vibrant,
family-friendly community.
PURPOSE
Create a community
where everyone can thrive.
VALUES
We are Bold
We challenge the status quo in our relentless pursuit to rethink how we do business. We are on a mission to innovate, modernize services, and bring government into the 21st century.
We are Humble
Everyone has a role to play, and we find purpose in doing our part. We own mistakes and learn from them to become better. We value feedback, embrace our vulnerabilities, and take time to celebrate others.
We are Driven
We have strong work ethic and tackle issues head on, even the tough stuff. We anticipate problems, develop creative solutions, and push ourselves to be better.
We are Honest
We strive to do what is right, not what is easy. We keep our commitments and take responsibility for results, even if things go wrong.
We are Kind
No matter who you are or where you are from, you’re welcome here. We embrace diversity, treat people with dignity, and genuinely care for others.
We are a Team
We give voice to our community. We trust and honor the process of collaboration. We achieve more together.
GOALS
Financial
Stability
Safe
Community
Sense of
Place
Strong
Economy
Sound
Infrastructure
High Performing
Government
26 FY26 Q2 Progress Report
Projects, Performance Measures & Milestones
Available on
https://performance.envisio.com/dashboard/cityofcorona2172 27 28 Financial Stability
Progress Highlights
Review and update the City’s
purchasing process to ensure it
follows best practices
Identify core services and service
levels for both mandates and
non-mandated services.
Increase the percentage of
services funded via external
sources
Utilize Strategic Plan to guide
future financial decisions
29 Financial Stability Performance Report
Measure FY25 Q2 FY26 Q2 Trend Benchmark
POB Balance (in millions) $225M $207M ↓ $0M
% of GO Debt Capacity Used 5.85% 5.21% ↓ < 10%
Debt Payments as a % of Operating Budget 8.49% 7.85% ↓ < 10% *Outstanding Debt per Capita *$1,766 $1,659 ↓ < $2,000
Unfunded Pension Liability (in millions) $108.32M $97.8M ↓ $0M GO Bond Credit Rating AA+ AA+ - AAA
Diversity of Revenue Sources 14 14 -
< 50% from sales tax
*Outstanding Debt per Capita data changed and updated after the FY 25Q4 Strategic Progress Report to Council. 30 Strong Economy
Progress Highlights
Explore the feasibility of a facade
improvement program.
Redevelop the Corona Mall Properties,
secure tenants.
Implement ARPA-funded Small
Business Grants programs including
Entrepreneur, Small Business, and
Downtown Commercial Beautification
Grant.
Build partnerships and programs that
support youth and adult development to
ensure a prepared and skilled local
workforce.
31 Strong Economy Performance Report
Measure FY25 Q2 FY26 Q2 Trend Benchmark
*# of Companies Supported via Team Corona
Meetings/Businesses Assisted, Supported, and
Promoted
50 83 ↑ >30
# of Corona Mall Properties Redeveloped 28 28 - >3
% of Business Resources that can be Accessed in
Spanish
60% 60% - 100%
% of Commercial Brokers Engaged With 25% 80% ↑ >20%
% of Small Businesses that remain Open One Year After
Participating in Various Entrepreneurship Programs
100% 100% - 100%
% of Emprendedor@s graduates that successfully
launch their business
100% 100% - 100%
32 Sound Infrastructure
Progress Highlights
Continue efforts to implement "park
sponsorships" to increase funding and
community support for parks.
Demolish existing playground equipment and
install a new playground structure at Sheridan
Park.
Modernize traffic cameras and
explore AI to optimize traffic flows
Develop a long-term capital reserve/asset
management funding policy for maintaining and
replacing infrastructure assets.
33 Sound Infrastructure Performance Report
Measure FY25 Q2 FY26 Q2 Trend
% of Street Signs Replaced within Target Timeframes (30 days) 100% 100% - Town-wide Average Street PCI Rating 73 71 ↓
% of Residents Rating Recreation Facilities as Good or Excellent 74% 66% ↓ % of Residents Rating the Availability of Paths and Walking Trails as Good or Excellent
62% %65 ↑
% of Residents Rating the Bike Lanes as Good or Excellent 62% 62% - % of Residents Rating the Quality of Public Parks as Good or Excellent 74% 76% ↑ Benchmark
>95%
>70%
>65%
>65%
>60%
>75%
34 Safe Community
Progress Highlights
Expand resident engagement and
involvement in police and fire support efforts
(e.g., Citizens on Patrol, Neighborhood
Watch)
Provide preparedness training courses
and certifications. .
Continue to Implement the City’s
Homelessness Strategic Plan.
Explore opportunities to adopt
best practices and computer
aided dispatch systems.
35 Safe Community Performance Report
Measure FY25 Q2 FY26 Q2 Trend Benchmark
Average Police Response Time to Priority 1 Calls 00:05:40 00:05:45 ↑ <0:05:40 Average Police Response Time to 90% of Priority
1 Calls
00:04:24 00:04:40 ↑ <0:04:45
Medical Calls – Response Time 90th Percentile
Performance
00:07:01 00:06:38 ↓ <0:07:11
Average Response Time to All Fire Incidents 00:05:11 00:05:35 ↑ <0:05:30 *Property Crimes 653 616 ↓ <800
% of Community Satisfaction Rating of Public
Safety Efforts
69% %71 ↑ >65%
Number of Homeless Individuals Within the City 65 108 ↑ <90 *Property Crimes data changed and updated after the FY 24Q4 Strategic Progress Report to Council. 36 Sense of Place
Progress Highlights
Utilize volunteer-led hikes to help
residents become familiar with trail
and park opportunities
Increase large-scale recreation events
(sports-themed, food, etc.) that
provide the community with both
social and economic benefits.
Increase the City’s support,
coordination, and partnerships
to enhance veteran services and
programs.
Designate the Historic Civic
Center as Corona’s center for
the arts and relocate all non-arts
lessees.
37 Sense of Place Performance Report
Measure FY25 Q2 FY26 Q2 Trend Benchmark
% of Residents Rating Corona as a Place to Live as Good or Excellent
83% 84% ↑ >85%
% of Residents Rating Corona as a Place to Raise a Child as Good or Excellent
83% 82% ↓ >80%
% of Residents Rating the Overall Image or Reputation of Corona as Good or Excellent
69% 70% ↑ >65%
% of Residents Very Likely to Recommend Living in Corona to Someone Who Asks
87% 88% ↑ >90%
% of Residents who say, given the chance to start over, they would choose to live in Corona Again
83% 83% - >85%
% of Residents Rating the Community’s Openness and
Acceptance Towards People of Diverse Backgrounds as Good or Excellent
75% 75% - >75%
38 High Performing Government
Progress Highlights
Streamline and simplify the
process for recruiting and hiring
new employees to reflect best
practices.
Increase the City’s support,
coordination, and partnerships to
enhance veteran services and
programs.
Pursue meaningful award and
certification opportunities to evaluate
municipal services and better
demonstrate the talent, commitment,
outcomes achieved by the City for its
residents.
Develop annual
department work plans
based on the Strategic Plan
and the City’s budget.
39 High Performing Gov’t Performance Report
Measure FY25 Q2 FY26 Q2 Trend Benchmark
% of Major City Services that are Offered Virtually 84% 88% ↑ >80% % of Residents Rating the Overall Direction the City is Taking as Good or Excellent
59% 61% ↑ >60%
% of Residents Rating Overall Quality of City Services as Good or Excellent
67% 67% - >70%
% of Residents who Believe All City Residents are Treated Fairly 64% 64% - >70% % of Residents Rating Value of Services as Good or Excellent 47% 46% ↓ >50% Employee Turnover Rate 4.44% 2.5% ↓ <5%
40 Strategic Plan Overall Progress
Q2 By the Numbers
Operational Performance Update
41 105,924
Registered Library Users
10,255
Library Program
Participants
2,350
Trees Trimmed 554 Trees Planted
6,996
Recreation Activity
Participants
842/ 5,657 Hours
Community Volunteers
13,050
Attendees @
Special Events
181
Trees Removed
Community Services
42 Homelessness
537
CPD Homeless Related
Calls for Service
265
Cubic Yards of Debris
Removed
242
Emergency Shelter
Clients Served
158
City Net Street Outreach
& Engagement Contacts
10 Permanent Housing
Placements
77 Emergency Shelter
Beds Available 43
Community Engagement
14,629,319
Social Media Impressions
555,480
Website Visits
2,518,898
Total Video Views
208,911
Emails Opened
291,528
Total Social Media Audience
557,396
Social Media Engagements 44
SeeClickFix
543
Total Tickets submitted
1.38 Average days to
acknowledge
8.47 Average days to close
1,058
Street Maintenance Tickets
41,926 sqft
Graffiti Removed
151
Graffiti Tickets
289
Parkway Maintenance Tickets
(Landscape and Trees)
45 27
Live Work Corona Pledges
202*
New Businesses
20 Businesses Assisted, Supported, &
Promoted
1,514*
Business License Renewals
64 Business Outreach & Visitations 1
Partnership events with the Corona
Chamber * This number reflects business with physical locations in Corona. 46 INSPECTION
SERVICES PLANNING
SERVICES
328
Applications Processed
100%
Applications Processed on
Time
21 Average Days to Process
Applications
(Does not include over the counter permit)
TBD
Satisfaction Rating
PLAN
CHECK
906/942
Building Plan Checks/
Permits Issued
99%
Plan Checks/Permits Processed
on Time
5.21/3.85
Avg. Days to Review Plan
Checks/Permits
(first check/rechecks)
86.5%
Satisfaction Rating
DEVELOPMENT
SERVICES
389
Plan Checks/Permits Issued*
99%
Plan Checks/Permits
Issued on Time*
6 Avg. Days to Review Plan
Checks/Permits
100%
Satisfaction Rating
2,681/623
Building/Infrastructure
Inspections
99%
Inspections Completed on
Time
1 Avg. Days to Complete
Inspections
100%
Satisfaction Rating
CODE
COMPLIANCE
436
Cases Opened
660
NOVs Issued
500
Cases Closed
147
Citations Issued
(Dry Utility, Grading, TTM/PM Plan Checks &
Permits)
47 Planning & Development
Public Works
48 TRAFFIC
ENGINEERING
185
Work Orders Completed
(signing, striping, curb painting)
170
Traffic Signals
Maintained
142
Traffic Plan
Checks
CAPITAL
PROJECTS
87 Active CIP Projects
65 Planning/Design Phase
22 Out to Bid/Under Construction
2 Projects Completed
STREET MAINTENANCE
1,058/1,155
Work Orders Received/Completed
7,278
Curb Miles Swept
104
Streetlights Repaired
10,035
Sidewalk, Curb, Gutter Replaced
FLEET
394/121
Scheduled vs. Unscheduled Repairs
315
Vehicles & Equipment Inspected
21/34
Fire Apparatus Inspections/
Unscheduled Repairs
NPDES
INSPECTIONS
65 Commercial/Industrial Inspections
64 Construction Site Inspections
43 Illicit Connections & Discharges
Identified
TRANSIT
30,976
Corona Cruiser Ridership
11,422
Dial-a-Ride Ridership
49 203
Vehicles
Towed
65 Fire Calls
567
Fire Inspections
3,980
Calls for
Service
2,323
Medical Calls
21,227
Calls for Service
04:40
90% of response time falls
under*
1,258
Parking
Citations
4:44
Average Response Time
1,549
Vehicle
Citations
1,019
Arrests
60%
Response rate at 5:00 mins or
less*
83.76%
Response to medical calls at
6:00 mins or less
71.88%
Response to fire incidents at
6:00 mins or less
*Response to Priority 1 Calls
Public Safety
*Response to Priority 1 Calls
50 BILLING & ADMINISTRATION
3:17 Minutes
Average Speed of Answer
140,463
Bills Mailed
9,253
Customer Service Calls
40.3%
Auto Pay Subscriptions
UTILITIES MAINTENANCE
262/238
Work Orders
Received / Closed
163,806
CCTV Inspected
150,173 LF
Sewer Mains Cleaned
8,901
Meters Replaced
ELECTRIC
UTILITY
100%
Time Power is On
132,480
Mins. w/ Power
0 Mins. w/o Power
0 Electrical Outages
WATER
UTILITY
2.171 Billion Gal.
Water Treated
1,277/100%
Water Samples / Compliance Rate
1 Billion Gal.
Wastewater Treated
1,244/100%
Wastewater Samples/ Compliance Rate
Utilities
INFORMATION
TECHNOLOGY
4,639,695
Total Cyber Attacks
Deflected
3,556
IT Service Requests
Completed
#5
National Ranking for
IT Services
(Population125K-250K)
CLERK’S OFFICE
384
Public Records
Requests
6 Agendas Published
28 Claims Received
7 Subpoenas Processed
HUMAN RESOURCES
16 Jobs Posted
45 New Hires
48 Promotions
26 Separations
PURCHASING
11 Bids Issued
635
Contracts Executed
322
Purchase Orders Issued
491
P-Tracks Completed
ACCOUNTING
95%
Invoices Paid within 30
days
7,247
Invoices Processed
35 Consecutive Years
Receiving GFOA Award
51 Internal Support
Downtown Revitalization Progress
52 North Mall: Relocated four tenants, negotiated acquisition of three additional properties, Preparing Phase 2 demolition plans
The Hub: The Wine Down opened, Backyard lighting installed, Concept Plan finalized and Renovation plans for 725 Main are in for permits, Entertainment Zone approved
Downtown Street Signs: Installation completed
6th Street Transformation: Iconic sign design approved, Design work for street continues
Police Department Site: Demolition and new landscaping installed City Park: Finalized design for Council review
Northgate: Planning Commission approved
Innovation Center: Contract awarded
HCC: Operations Plan approved
Questions?
53 951-739-4995
[email protected]
v
www.CoronaCA.gov