Budget Update
Quarter 4
FY 2026
Bruce Foltz
Finance Director
October 21, 2026
Q4 Budget Update
Note: FY 2026 Q4 figures may change through the year-end audit process (Year-End Closing Entries, Etc.)
2 General Fund
General Fund, Measure X Fund, Corona Mall Fund, Historic Civic Center Fund, Community Benefit Fund, and Pension Stabilization Trust Fund 3 General Fund Inflows Highlights
Revenues + Transfers In
Estimated Inflows Received: 103.5% (103.6% adjusted for book entries) Top 5 Revenues, Compared to Quarter 4, FY 2025
4 Property Tax – Increasing 4.9%, or $3.3 million
Sales Tax – Increasing 1.8%, or $1.8 million
Investment Earnings – Increasing 1.0%, or $0.2 million
Other Taxes – Decreasing 1.4%, or $0.2 million
Charges for Services – Increasing 8.6%, or $1.3 million Overall, inflows are up 1.2% when compared to the same quarter in FY 2025. • Book Entries = -$0.4 million
• Adjusted for book entries, up by 5.6% compared to the same quarter in FY 2025.
General Fund Inflows Revenues + Transfers In
Projected FY 2026 Estimates to Actuals
5 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 $13,967,319 $374,087 2.8% 2 nd Quarter Apr – June $15,394,672 $15,572,890 $178,218 1.2% Fiscal Year Total $60,059,878 $59,589,651
Projected FY 2026 $58,580,730
Percentage of estimated revenue received 101.7%
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 $10,558,701 $275,281 2.7% 2 nd Quarter Apr – June $11,117,461 $11,281,284 $163,823 1.5% Fiscal Year Total $43,244,261 $44,499,680
Projected FY 2026 $43,429,000
Percentage of estimated revenue received 102.5%
General Fund Outflows Highlights
Expenditures + Transfers Out
01 The cummulative outflow budget is $303.9 million
Through June, 100% of FY complete 02 (figures may change due to year-end audit process) 03 Overall outflows % of cumulative budget spent 78.2%
<90% Spent: CIP/O&M Projects, City Manager’s Office, Economic Development, Human 04 Resources, Information Technology, and Planning & Development 8 General Fund Outflows Expenditures + Transfers Out
Budget to Actuals
9 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.
The final amounts may be
adjusted once the FY 2026
financial statements are issued.
Emergency
Contingency
1 Equal to 3 months of
operating expenditures
Adjusted at the end of each
fiscal year (adjusted for FY
2026)
2 3
$56,367,462
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
11 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
↓ 5.5% decrease, $1.2M
↓ Charges for Services
↑ Fees & Permits
↓ Fines, Penalties & Forfeitures
↓ Intergovernmental Revenues
↓ Investment Earnings
↓ Other Revenue
↑ Utility Service Charges
↑ 21.2% increase, $17.0M
↓ Charges for Services
↓ Fees & Permits
↑ Fines, Penalties & Forfeitures
↑ Intergovernmental Revenues
↑ Investment Earnings
↓ Licenses, Fees & Permits
↑ Other Revenue
↑ Utility Service Charges
↑ 3.2% increase, $1.3M
↑ Charges for Services
↓ Fees & Permits
↑ Fines, Penalties & Forfeitures
↓ Intergovernmental Revenues
↓ Investment Earnings
↓ Licenses, Fees & Permits
↑ Other Revenue
↑ Utility Service Charges
Electric Water Sewer
Utilities Funds Inflows Highlights
Quarter 4 Actuals, FY 2025 to FY 2026
13 Utilities Funds Inflows Revenues + Transfers In
Projected FY 2026 Estimates to Actuals
14 *Projected amount excludes previously included loan bond proceeds. Per auditor recommendation, loan bond proceeds have been reclassed to long-term debt.
Sewer – 47.0%
ü Operating budget
87.3% spent
ü CIP / O&M budget
19.4% spent
Electric – 56.1%
ü Operating budget
61.7% spent
ü CIP / O&M budget
19.3% spent
Water – 66.6%
ü Operating budget
100.4% spent
ü CIP / O&M budget
37.4% spent
Outflows 58.3% of budget spent
Utilities Funds Outflows Highlights
Expenditures + Transfers Out
15 Utilities Funds Outflows Expenditures + Transfers Out Budget to Actuals
16 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