Budget and Finance Committee
Monthly General Fund and Measure C Update
June 17, 2026
• Staff is continuing to monitor revenues and expenses closely and as the end of the year is closer more information is known versus forecasted.
• Based on the current forecast, an additional transfer of $1.2 million may be needed to balance the budget, but there may also be additional salary savings or unanticipated revenue.
• As part of FY 2026-27 Budget Resolution, Council authorized staff to increase transfers if required to end year with revenues balanced to expenses. (This will happen after the end of the fiscal year and before year-end close.)
Monthly Update As of May 31, 2026 - Highlights
• Target (Column B): This is the projection presented at the 5/20/2026 CBFC meeting and as part of the FY 2026/27 budget. Transfers are currently balanced to this number.
• Unaudited Actuals (Column C): These are the amounts actually received or paid. Timing of receipt of revenue or payment of expense depend on the revenue or expense and will be discussed with the next slide.
• Projection (Column D): The projection is based on what is known and a forecast. It is described for each line in the Notes column. • Difference (Column E): The Difference Between Column B and D Monthly Update As of May 31, 2026 – Table Key
General Fund Revenue - As of 5/31/2026
Column A B C D E
Revenues
TARGET FY2025-
26 PROJECTION
(PRESENTED TO
CBFC 5/20/2026)
FY2025-26
UNAUDITED
ACTUALS THROUGH
5/31/2026
FY 2025-26
PROJECTION
AS OF
6/10/2026
E = D-B
Difference between
TARGET and
6/20/2026 Projection
NOTES
Property Tax 79,500,000 72,840,568 79,553,798 53,798
Projected based on payments received to date + prior year May and June Payments.
Received RDA payment in June and still have May and June payments. Optimistic but monitoring.
Sales Tax 47,599,300 36,373,170 46,717,100 -882,200
Projection: New consultant estimate is reduced to $46,717,100 . 9 months of payments received
Utility Users Tax 24,844,001 19,101,609 25,601,609 757,608 Projection: Actuals + average of months not received
Actuals are payments through March
Franchise Fees 12,884,566 10,998,088 12,998,088 113,522 Projection: Actuals + $2 million based on prior quarters for anticipated payments Actuals are payments through March except PG&E which is paid annually in April.
Real Property Transfer Tax 11,794,149 7,872,695 10,500,000 -1,294,149 Projection: Straight Line Forecast
Actuals are payments through March
Transient Occupancy Tax 2,628,509 1,986,445 2,630,445 1,936 Actuals + Accrual from FY 2025 Cannabis Tax 625,815 500,815 630,815 5,000 Projection: Actuals + Lowest quarterly payment to account for reducing Business License Tax (including
Technology Fee) 3,271,846 3,052,803 3,127,803 -144,043 Projection: Actuals + prior year collections in June & July Other Taxes | Emergency Services
Facilities Excise Tax 2,242,447 2,140,039 2,363,695 121,248 Projection: Straight Line Forecast
Actuals are payments through June
Charges for Services 14,923,060 11,440,972 14,000,000 -923,060 Projection: Staff Review with affected departments in May adjusted for actuals Inter-Governmental 7,485,015 7,142,451 7,483,421 -1,594 Projection: Straight Line Forecast except Fairview Fire District Fines & Forfeitures 2,756,077 2,326,541 2,538,045 -218,032 Projection: Straight line from actuals Other Revenues 1,020,291 1,095,626 1,200,000 179,709 Projection: Straight line from actuals Interest & Rents 0 10,232 12,000 12,000 Actuals
Subtotal Revenues 211,575,075 176,882,054 209,356,819 -2,218,257 Yellow = Monitoring
Proposed Transfers-In to General Fund
Revenue is trending downward as of 5/31/2026
Column A B C D E
Transfers-In
TARGET FY2025-26
PROJECTION
(PRESENTED TO
CBFC 5/20/2026)
FY2025-26
UNAUDITED
ACTUALS
THROUGH
5/31/2026
FY 2025-26
PROJECTION AS
OF 6/10/2026
E = D-B
Difference
between TARGET
and 6/20/2026
Projection
NOTES
Transfers-In (Cost Allocation) 2,899,587 2,657,955 2,899,587 0 Fixed Transfer Transfers-In (Gas Tax) 246,000 225,500 246,000 0 Fixed Transfer Transfers-In (Community Facility
District) 473,000 433,583 473,000 0 Fixed Transfer
Transfers-In (Loan Repayment from
Successor Agency) 800,000 0 0 -800,000 This is not a revenue transfer as it offsets a prior period.
Transfers-In (Measure C) 9,750,000 0 9,750,000 0 Fixed Transfer Transfers-In (OPEB Trust) 3,000,000 0 3,000,000 0
Transfers-In (Other Funds - Authorized
6/2025) 5,600,000 0 5,600,000 0
Economic Development Fund ($250,000), General Liability ($1,300,000), Fleet Capital ($800,000), Property Acquisition Management ($600,000), 238 Properties ($2,650,000)
Transfers-In (Other Funds - Authorized
11/2025) 3,137,036 0 3,137,036 0 Pending Final Numbers - Information Technology Fund ($3,137,036) Transfers In (Worker's Compensation) 4,000,000 0 4,000,000 0 Pending Final Numbers - Spreadsheet for transfers in this workbook Subtotal Transfer Ins 29,905,623 3,317,038 29,105,623 -800,000 Total Revenues & Transfers-In 241,480,698 180,199,092 238,462,442 -3,018,257 General Fund Expenses As of 5/31/2026
Expenses are trending downward, and may trend down further Column A B C D E
Expenditures
TARGET FY2025-26
PROJECTION
(PRESENTED TO
CBFC 5/20/2026)
FY2025-26
UNAUDITED
ACTUALS THROUGH
5/31/2026
FY 2025-26
PROJECTION AS OF
6/10/2026
E = D-B
Difference
between TARGET
and Projection
NOTES
Salaries 103,219,078 94,110,031 103,219,078 0 Estimate based on actuals from pay periods in Calendar 2026 Overtime 9,906,688 9,415,520 9,900,000 -6,688 Estimate based on actuals from pay periods in Calendar 2026 Leave Pay-Out & Special Pays Budget 9,593,425 9,686,531 9,300,000 -293,425 Estimate based on actuals from pay periods in Calendar 2026 Subtotal Salaries 122,719,191 113,212,082 122,419,078 -300,113 CalPERs Retirement Costs 54,000,000 45,496,926 54,000,000 0 Estimate based on actuals from pay periods in Calendar 2026 + Fixed UAL Payment Workers' Compensation Contribution 6,599,101 6,077,997 6,599,101 0 Estimate based on actuals from pay periods in Calendar 2026 OPEB | MERP | 401a 4,124,637 3,952,666 4,124,637 0
$3 Million is OPEB recovered from Trust ($3 million in revenue) - Remaining is estimate based on pay periods in Calendar 2026
FICA/Medicare 1,691,516 1,566,439 1,691,916 400 Estimate based on actuals from pay periods in Calendar 2026 Healthcare 15,553,869 12,960,632 15,000,000 -553,869 Estimate based on actuals from pay periods in Calendar 2026 Other Benefits 592,200 1,260,945 592,200 0 Estimate based on actuals from pay periods in Calendar 2026 Subtotal Benefits 82,561,323 71,315,605 82,007,854 -553,469 Subtotal Salaries & Benefits 205,280,514 184,527,687 204,426,932 -853,582 Maintenance & Utilities 2,174,970 1,402,215 2,174,970 0 Budgeted Amount Supplies & Services 8,212,471 7,544,670 8,212,471 0 From Previous Forecast Internal Service Fees 22,093,539 20,252,414 22,093,539 0 Fixed Amount Capital 199,000 152,998 199,000 0 Fixed Amount
Charge-Outs -7,333,102 -7,374,960 -8,045,411 -712,309 Straight Line Forecast from actuals Transfers-Out (CIP) 1,300,000 1,324,583 1,300,000 0 Fixed Amount - Staff will research discrepancy Transfers-Out (OPEB Trust) 0 0 0 0
Transfers-Out (Debt Service) 2,576,125 2,262,143 2,576,125 0 Fixed Amount Transfers-Out (Liability Insurance) 6,408,704 5,874,645 6,408,704 0 Fixed Amount Transfers-Out (ED Fund) 350,000 350,000 350,000 0 Fixed Amount Total Expenditures & Transfers-Out 241,262,221 216,316,395 239,696,330 -1,565,891 Total Yellow = Monitoring
General Fund Monthly Salary Report As of 5/31/2026:
On target to stay within budget by end of FY due to lower payrolls starting in February General Fund Salary and Benefits including Overtime - as of 05/31/26 (92.3% of payroll year) Annual Budget excluding CalPERS UAL
costs which are fixed $165,280,514
Month Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 % of Payroll Year 7.7% 15.4% 23.1% 30.8% 42.3% 50.0% 57.7% 65.4% 73.1% 80.8% 92.3% Straight Line Forecast 12,713,886 25,427,771 38,141,657 50,855,543 69,926,371 82,640,257 95,354,143 108,068,028 120,781,914 133,495,800 152,566,628 Actual Amount Spent During Month
including UAL 15,613,676 15,784,536 16,010,803 15,943,571 23,154,956 15,679,517 15,593,997 15,060,184 14,973,498 15,172,037 21,540,233 UAL 2,583,637 2,692,785 2,711,713 2,750,032 4,076,444 2,734,414 2,699,880 2,686,829 2,672,263 2,664,086 3,986,033 Subtract UAL 13,030,039 13,091,751 13,299,090 13,193,539 19,078,512 12,945,103 12,894,117 12,373,355 12,301,235 12,507,951 17,554,200 Year To Date without UAL 13,030,039 26,121,790 39,420,880 52,614,419 71,692,931 84,638,034 97,532,151 109,905,506 122,206,741 134,714,692 152,268,892 % of Budget Spent 7.9% 15.8% 23.9% 31.8% 43.4% 51.2% 59.0% 66.5% 73.9% 81.5% 92.1% Total Spent YEAR TO DATE 15,613,676 31,398,212 47,409,015 63,352,586 86,507,542 102,187,059 117,781,056 132,841,240 147,814,738 162,986,775 184,527,008 (Over) Under Budget* (316,153) (694,019) (1,279,223) (1,758,876) (1,766,560) (1,997,777) (2,178,008) (1,837,478) (1,424,827) (1,218,892) 297,736 General Fund Monthly Overtime Report
As of 5/31/2026: On target to stay within budget
Previous Years OT Actuals FY 25 FY 24 FY 23 FY 22 FY 21 Police 7,179,172 5,749,813 5,130,300 4,216,208 3,583,144 Fire 8,170,285 7,615,082 7,286,285 7,439,117 6,820,206
Other 592,558 751,986 700,974 587,898 445,108
Total 15,942,015 14,116,881 13,117,559 12,243,223 10,848,458 General Fund Overtime
Actuals
Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Total PD* 530,178 521,065 575,978 500,807 638,021 425,406 287,265 223,861 177,424 146,236 230,660 4,256,901 Fire* 580,009 644,260 695,547 515,940 626,229 429,262 193,256 280,891 258,588 231,848 441,384 4,897,214 Other 17,923 31,533 36,105 30,692 32,776 20,158 16,014 15,058 14,426 11,575 35,143 261,403 Total Overtime Spent 9,415,518
Forecasted Overtime Budget FY
2025-2026 9,906,688
Percent Spent 95%
Measure C Updated Projection
*Budget revenues in the original FY 26 budget (June 2025) were $23,500,000 which were downgraded due to the loss of the BART car revenue
Column A B C D E
TARGET FY2025-26
PROJECTION (PRESENTED TO
CBFC 5/20/2026)
FY2025-26 UNAUDITED
ACTUALS THROUGH
5/31/2026
FY 2025-26 PROJECTION
AS OF 6/10/2026
E = D-B
Difference between
TARGET and 6/20/2026
Projection
Starting Balance 21,017,752 21,017,752 21,017,752 -
Revenues 20,772,899 16,569,689 21,089,518 316,619
Operating Expenses 8,430,953 7,883,349 8,600,017 169,064 Debt Service 5,418,813 5,418,813 5,418,813 0
Transfer to General Fund 9,750,000 9,750,000 9,750,000 0 Total Expenses 23,599,766 23,052,162 23,768,830 169,064 Revenue Net Exepnses -2,826,867 -6,482,473 -2,679,312 147,555 Ending Balance 18,190,885 14,535,279 18,338,440 147,555 Questions / Discussion