Budget Update
Quarter 3
FY 2026
Bruce Foltz
Finance Director
May 6, 2026
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
Property Tax – Increasing 4.1%, or $2.3 million
Sales Tax – Increasing 0.4%, or $0.2 million
Overall, inflows are up 2.5% when compared to the same quarter in FY 2025. • Book Entries = -$6.7 million
• Adjusted for book entries, up by 4.9% compared to the same quarter in FY 2025.
Quarter 3 is on track with 75% of the year completed and 67.8% of the inflows received.
Estimated Inflows Received: 65.2% (67.8% adjusted for book entries) Current Services – Increasing 14.0%, or $1.4 million
Top 5 Revenues, Compared to Quarter 3, FY 2025
Other Taxes – Decreasing 0.9%, or $0.1 million
Other Revenue – Decreasing 8.3%, or $0.8 million
General Fund Inflows Revenues + Transfers In
Budget to Projected FY 2026 Estimates (Updated April 2026) General Fund Inflows Revenues + Transfers In
Projected FY 2026 Estimates (Updated April 2026) to Actuals 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 $15,149,679 ($724,898) (4.6%) 1 st Quarter Jan – Mar 13,593,232
2 nd Quarter Apr – June 15,394,672
Fiscal Year Total $60,059,878 $30,049,442
Projected FY 2026 $58,580,730
Percentage of estimated revenue received 51.3%
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 $11,704,559 $348,539 3.1% 1 st Quarter Jan – Mar 10,282,920
2 nd Quarter Apr – June 11,117,461
Fiscal Year Total $43,244,261 $22,659,695
Projected FY 2026 $43,429,000
Percentage of estimated revenue received 52.2%
General Fund Outflows Highlights
Expenditures + Transfers Out
The cummulative outflow budget is $303.8 million 01
Through March, approximately 75% of FY complete
02 (approximately, due to timing of payments)
Overall outflows % of cumulative budget spent 49.9% 03
<65% Spent: CIP/O&M Projects, City Manager’s Office, Debt Service, Economic Development, General Government, Human 04 Resources, Information Technology, and Planning & Development General Fund Outflows Expenditures + Transfers Out
Budget to Actuals – March 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
2013 Wastewater
Revenue Bond Project
Fund
Greenfield Electric
Utility Fund
Electric
Funds
Water Utility Fund
Sewer Utility Grant/
Agreement Fund
Water Utility Grant/
Agreement Fund
2012 Water Revenue
Bond Project Fund
Sewer Capacity Fund
Direct Access Electric
Utility Fund
Water
Funds
Electric Utility Grant/
Agreement Fund
↓ 9.4% decrease, $1.4M
↓ Current Services
↑ Fees & Permits
↓ Fines, Penalties & Forfeitures
↓ Intergovernmental Revenues
↓ Investment Earnings
↓ Other Revenue
↑ Utility Service Charges
↑ 100.8% increase, $52.0M
↓ Current Services
↑ Fees & Permits
↓ Fines, Penalties & Forfeitures
↑ Intergovernmental Revenues
↓ Investment Earnings
↓ Licenses, Fees & Permits
↑ Other Revenue
↑ Proceeds from Long Term Debt
↓ Utility Service Charges
↑ 126.2% increase, $32.0M
↑ Current Services
↓ Fees & Permits
↑ Fines, Penalties & Forfeitures
↑ Intergovernmental Revenues
↓ Investment Earnings
↓ Licenses, Fees & Permits
↑ Other Revenue
↑ Proceeds from Long Term Debt
↑ Utility Service Charges
Electric Water Sewer
Utilities Funds Inflows Highlights
Quarter 3 Actuals, FY 2025 to FY 2026
Utilities Funds Inflows Revenues + Transfers In
Budget to Projected FY 2026 Estimates (Updated April 2026) Utilities Funds Inflows Revenues + Transfers In
Projected FY 2026 Estimates (Updated April 2026) to Actuals Sewer – 31.5%
Operating budget 61.2% spent
CIP / O&M budget
11.4% spent
Electric – 37.5%
Operating budget 41.7% spent
CIP / O&M budget
10.5% spent
Water – 43.1%
Operating budget 68.8% spent
CIP / O&M budget
21.0% spent
Outflows 38.2% of budget spent
Utilities Funds Outflows Highlights
Expenditures + Transfers Out
Utilities Funds Outflows Expenditures + Transfers Out
Budget to Actuals – March 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) 279-3532
[email protected]
www.CoronaCA.gov
Strategic Plan Implementation
Progress Report
Fiscal Year 26, Q3
City Managers Office
20 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
25 FY26 Q3 Progress Report
Projects, Performance Measures & Milestones
Available on
https://performance.envisio.com/dashboard/cityofcorona2172 26 27 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
28 Financial Stability Performance Report
Measure FY25 Q3 FY26 Q3 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. 29 Strong Economy
Progress Highlights
Redevelop the Corona Mall Properties,
secure tenants.
Explore opportunities to bring
additional hotels to support larger
conferences, gatherings, and events.
Build partnerships and programs that
support youth and adult development to
ensure a prepared and skilled local
workforce.
Review and update the City’s
purchasing process
30 Strong Economy Performance Report
Measure FY25 Q3 FY26 Q3 Trend Benchmark
*# of Companies Supported via Team Corona Meetings/Businesses Assisted, Supported, and Promoted
53 65 ↑ >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 40% 75% ↑ >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% 31 Sound Infrastructure
Progress Highlights
Establish consistent quality and
maintenance standards and inspections
for city parks and recreation facilities
Develop a bicycle master plan to expand
transportation options, improve cyclist and
pedestrian safety, and increase grant funding
opportunities.
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.
32 Sound Infrastructure Performance Report
Measure FY25 Q3 FY26 Q3 Trend Benchmark
% of Street Signs Replaced within Target Timeframes (30 days) 100% 100% - >95% Town-wide Average Street PCI Rating 73 70 ↓ >70%
% of Residents Rating Recreation Facilities as Good or Excellent 65% 66% ↑ >65% % of Residents Rating the Availability of Paths and Walking Trails as Good or Excellent
64% 65% ↑ >65%
% of Residents Rating the Bike Lanes as Good or Excellent 62% 62% - >60% % of Residents Rating the Quality of Public Parks as Good or Excellent 74% 76% ↑ >75% 33 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.
34 Safe Community Performance Report
Measure FY25 Q3 FY26 Q3 Trend Benchmark
Average Police Response Time to Priority 1 Calls 00:05:12 00:06:03 ↑ <0:05:40 Average Police Response Time to 90% of Priority 1 Calls 00:04:27 00:04:46 ↑ <0:04:45 Medical Calls – Response Time 90th Percentile Performance 00:06:47 00:06:52 ↑ <0:07:11 Average Response Time to All Fire Incidents 00:05:28 00:05:25 ↓ <0:05:30 *Property Crimes 614 560 ↓ <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. 35 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.
36 Sense of Place Performance Report
Measure FY25 Q3 FY26 Q3 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%
37 High Performing Government
Progress Highlights
Streamline and simplify the
process for recruiting and hiring
new employees to reflect best
practices.
Replace the Enterprise Resources
Planning System
Develop metrics to gauge City’s success
or failure at meeting or improving
upon service levels.
Develop annual
department work plans
based on the Strategic Plan
and the City’s budget.
38 High Performing Gov’t Performance Report
Measure FY25 Q3 FY26 Q3 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 68% 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 4.6% 2.9% ↓ <5%
39 74%
20%
6%
YEAR 5 (FY 26)
Completed
On Track
Work Underway
Implementation Summary
94% ‘Complete’ or ‘On Track’ to Complete
Q3 By the Numbers
Operational Performance Update
40 105,393
Registered Library Users
9,565
Library Program
Participants
948
Trees Trimmed 556 Trees Planted
7,696
Recreation Activity
Participants
1,000/ 6,172 Hours
Community Volunteers
5,500
Attendees @
Special Events
143
Trees Removed
Community Services
41 Homelessness
455
CPD Homeless Related
Calls for Service
440
Cubic Yards of Debris
Removed
147
Emergency Shelter
Clients Served
292
City Net Street Outreach
& Engagement Contacts
4 Permanent Housing
Placements
77 Emergency Shelter
Beds Available 42
Community Engagement
4,206,194
Social Media Impressions
568,566
Website Visits
1,179,160
Total Video Views
240,032
Emails Opened
306,839
Total Social Media Audience
205,690
Social Media Engagements 43
SeeClickFix
648
Total Tickets submitted
1 Average days to
acknowledge
6.6 Average days to close
1,870
Street Maintenance Tickets
36,789 sqft
Graffiti Removed
149
Graffiti Tickets
355
Parkway Maintenance Tickets
(Landscape and Trees)
44 28
Live Work Corona
250*
New Businesses
65 Businesses Assisted,
Supported, & Promoted
1,390*
Business License
Renewals
30 Business Outreach &
Visitations
1 Partnership events with the
* This number reflects business with physical locations in Corona. Corona Chamber 45 INSPECTION
SERVICES PLANNING
SERVICES
552
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
739/913
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)
NA
Satisfaction Rating
DEVELOPMENT
SERVICES
412
Plan Checks/Permits Issued*
98%
Plan Checks/Permits
Issued on Time*
7 Avg. Days to Review Plan
Checks/Permits
100%
Satisfaction Rating
2,435/946
Building/Infrastructure
Inspections
99%
Inspections Completed on
Time
1 Avg. Days to Complete
Inspections
NA
Satisfaction Rating
CODE
COMPLIANCE
468
Cases Opened
582
NOVs Issued
458
Cases Closed
246
Citations Issued
(Dry Utility, Grading, TTM/PM Plan Checks &
Permits)
46 Planning & Development
Public Works
47 TRAFFIC
ENGINEERING
243
Work Orders Completed
(signing, striping, curb painting)
170
Traffic Signals
Maintained
126
Traffic Plan
Checks
CAPITAL
PROJECTS
82 Active CIP Projects
65 Planning/Design Phase
25 Out to Bid/Under Construction
2 Projects Completed
STREET MAINTENANCE
1,870/1,855
Work Orders Received/Completed
7,278
Curb Miles Swept
164
Streetlights Repaired
10,035
Sidewalk, Curb, Gutter Replaced
FLEET
410/131
Scheduled vs. Unscheduled Repairs
324
Vehicles & Equipment Inspected
20/37
Fire Apparatus Inspections/
Unscheduled Repairs
NPDES
INSPECTIONS
52 Commercial/Industrial Inspections
61 Construction Site Inspections
36 Illicit Connections & Discharges
Identified
TRANSIT
30,978
Corona Cruiser Ridership
11,656
Dial-a-Ride Ridership
48 206
Vehicles
Towed
88 Fire Calls
268
Fire Inspections
4,303
Calls for
Service
3,664
Medical Calls
21,083
Calls for Service
04:46
90% of response time falls
under*
1,158
Parking
Citations
5:25
Average Response Time
1,966
Vehicle
Citations
1,062
Arrests
56%
Response rate at 5:00 mins or
less*
81.07%
Response to medical calls at
6:00 mins or less
83.33%
Response to fire incidents at
6:00 mins or less
*Response to Priority 1 Calls
Public Safety
*Response to Priority 1 Calls
49 BILLING & ADMINISTRATION
6:10 Minutes
Average Speed of Answer
140,472
Bills Mailed
8,567
Customer Service Calls
40.4%
Auto Pay Subscriptions
UTILITIES MAINTENANCE
301/261
Work Orders
Received / Closed
142,132
CCTV Inspected
151,250 LF
Sewer Mains Cleaned
11,563
Meters Replaced
ELECTRIC
UTILITY
100%
Time Power is On
132,480
Mins. w/ Power
0 Mins. w/o Power
0 Electrical Outages
WATER
UTILITY
1.6691 Billion Gal.
Water Treated
1,284/100%
Water Samples / Compliance Rate
0.985 Billion Gal.
Wastewater Treated
1,189/100%
Wastewater Samples/ Compliance Rate
Utilities
INFORMATION
TECHNOLOGY
5,137,677
Total Cyber Attacks
Deflected
3,950
IT Service Requests
Completed
#5
National Ranking for
IT Services
(Population125K-250K)
CLERK’S OFFICE
352
Public Records
Requests
6 Agendas Published
38 Claims Received
19 Subpoenas Processed
HUMAN RESOURCES
34 Jobs Posted
45 New Hires
12 Promotions
32 Separations
PURCHASING
17 Bids Issued
101
Contracts Executed
242
Purchase Orders Issued
316
P-Tracks Completed
ACCOUNTING
97%
Invoices Paid within 30
days
6,726
Invoices Processed
35 Consecutive Years
Receiving GFOA Award
50 Internal Support
Downtown Revitalization Progress
51 North Mall: Phase 2 demolition contractor identified, surplus exemption processed, design work progressing
The Hub: Two new tenants signed, additional recruitment ongoing Downtown Street Signs: Phase 1 installation is complete, design work on track for illuminated signs
6th Street Transformation: Design on schedule for all segments Police Department Site: Complete with grass growing
City Park: Design finalized, contractors prequalified, finalizing traffic study HCC: Non-arts tenants relocating, renovation work commenced Northgate: Entitled project!
Questions?
52 951-739-4995
[email protected]
www.CoronaCA.gov