City of Foster City, California
General Fund (Fund 001 to 003)
Five Year Financial Plan for the Years Ended June 30, 2030 Projected Five Year Financial Plan
Revenues by Source: 2024-25 2025-26 2026-27 2027-28 2028-29 2029-30 Property tax $35,506,460 $36,356,666 $37,433,686 $38,722,933 $40,243,382 $42,018,038 Excess ERAF $3,600,000 $3,600,000 $3,708,000 $3,819,240 $3,933,817 $4,051,832 Transient Occupancy Tax $4,300,000 $4,600,000 $4,738,000 $4,880,140 $5,026,544 $5,177,340 Property Taxes in-lieu of
Vehicle License Fee $4,631,493 $2,680,715 $1,829,065 $921,164 $942,803 $462,007 Sales Tax $4,003,133 $3,992,179 $4,068,374 $4,165,743 $4,251,719 $4,323,823 Business License Tax $4,061,000 $4,100,000 $4,223,000 $4,349,690 $4,480,181 $4,614,586 Charges for current services -
Recreation $1,640,589 $1,781,431 $1,947,620 $2,163,100 $2,245,568 $2,330,166 Charges for current services -
CDD & Others $651,732 $566,739 $583,741 $601,253 $619,290 $637,869 Permits $1,493,280 $2,721,093 $2,842,289 $2,444,595 $1,454,476 $1,498,110 Franchise Taxes $1,377,700 $1,377,700 $1,377,700 $1,377,700 $1,377,700 $1,377,700 Interest Income $2,097,553 $1,713,900 $1,413,900 $1,173,900 $981,900 $981,900 Rentals - City/EMID $1,063,700 $650,301 $610,301 $610,301 $610,301 $610,301 Rentals - Parks and Recreation $500,000 $549,121 $604,033 $694,638 $729,370 $765,838 Other (Fines, Shared Services,
Street Sweeping, Other) $524,985 $920,935 $1,279,430 $1,297,346 $1,315,803 $1,334,811 Other taxes (real property tax
transfer) $268,600 $304,900 $304,900 $304,900 $304,900 $304,900 Intergovernmental (SB90,
Grants, etc) $140,000 $144,200 $148,526 $152,981 $157,571 $162,298 Total Revenues $65,860,225 $66,059,880 $67,112,565 $67,679,624 $68,675,325 $70,651,519 Projected Expenditures (1) $61,667,827 $64,885,243 $67,414,507 $68,899,793 $71,818,875 $73,262,966 Net revenues over (under)
expenditures before
transfers $4,192,398 $1,174,637 ($301,942) ($1,220,169) ($3,143,550) ($2,611,447) Net Transfers In (Out) ($5,750,000) ($5,000,000) ($5,000,000) ($5,000,000) ($5,000,000) ($5,000,000) Net Increase (Decrease) in
Fund Balance ($1,557,602) ($3,825,363) ($5,301,942) ($6,220,169) ($8,143,550) ($7,611,447) Opening Fund Balance $63,480,198 $61,922,596 $58,097,233 $52,795,291 $46,575,122 $38,431,572 Reserve Balance (2) $61,922,596 $58,097,233 $52,795,291 $46,575,122 $38,431,572 $30,820,125 Minimum Reserve of 50% $32,442,622 $33,707,254 $34,449,897 $35,909,438 $36,631,483 $37,730,427 Excess (Deficient) Reserves $29,479,974 $24,389,979 $18,345,394 $10,665,684 $1,800,089 ($6,910,302) Reserve Balance as % of Next
Year's Operating Expenditures 95.4 % 86.2 % 76.6 % 64.9 % 52.5 % 41.2 % (1) Expenditures for FY 2025-26 represent budgeted appropriations; expenditures for FY 2026-27 to FY 2029-30 are projections. (2) The City is able to meet the City Council Reserve Policy of 50% through FY 2028-29, but is projected to fall below it in the following year.
City of Foster City's FY 2025-26 Preliminary Budget Page 3