Town of Portola Valley
Fiscal Year 2026-27 Preliminary Budget
June 10, 2026
Overview
• Revenues
• Expenses
FY 24-25
General
Fund
Revenues
FY 24
-25
General
Fund
Expenses
Category Revised Actual
$%
Salaries 2,322,020 2,141,500 (180,520) 92.23%
Benefits 972,906 834,418 (138,488) 85.77%
Services 892,237 652,543 (239,694) 73.14%
Maintenance 384,100 343,159 (40,941) 89.34%
Contract 2,560,832 2,379,324 (181,508) 92.91%
Consultants 940,000 791,165 (148,835) 84.17%
Development 73,700 45,572 (28,128) 61.83%
Transfers Out 70,000 - (70,000) 0.00%
Total 8,215,795 7,187,680.70 (1,028,114) 87.49%
Surplus / (Deficit) (263,020) (204,075)
Council
Priorities
Financial Responsibility and Long-term Viability
Safety
Operational Efficiency and Effectiveness
Responsible Land Use
Community
Environmental Sustainability
General Fund
Revenues
• $8.26 Million – +3.9%
• Property Tax – +5.3%
• Sales & Use Tax – +7.69%
• UUT – +2.9%
• Franchise - +1.0%
General
Fund
Revenues
Category 25-26 26-27 $ %
Property Taxes 4,355,875 4,588,087 232,212 5.33%
Sales & Use Tax 325,000 350,000 25,000 7.69%
Utility Users Tax 1,173,000 1,207,000 34,000 2.90%
Business License Tax 115,000 130,000 15,000 13.04%
Franchise Fees 424,000 428,000 4,000 0.94%
Fines & Forfeitures 2,500 2,500 - 0.00%
Licenses & Permits 322,500 322,500 - 0.00%
Intergovernmental 7,500 7,500 - 0.00%
Charges for Services 885,200 885,200 - 0.00%
Use of Money & Property 337,000 337,000 - 0.00%
Miscellaneous 5,200 5,200 - 0.00%
Transfers In - - - 0.00%
Total 7,952,775 8,262,987 310,212 3.90%
• Still Under Review
• Licenses and Permits
• Charges for Services
Property
Transfers
• 5 Year Average
• SFR – 51 sales, $5.2M
• Non SFR – 4 sales, $3.1
Tax Year SFR Sales
Original
Values
Sale
Price % Change
Non SFR
Sales
Original
Values
Sale
Price % Change
Total
Sales
Original
Values
Sale
Price % Change
2021 70 $ 177,111,344 $ 312,634,850 76.5% 5 $ 13,038,316 $ 13,615,900 4.4% 75 $ 190,149,660 $ 326,250,750 71.6% 2022 39 $ 116,062,849 $ 234,812,500 102.3% 2 $ 1,179,664 $ 2,275,000 92.9% 41 $ 117,242,513 $ 237,087,500 102.2% 2023 37 $ 112,058,203 $ 187,630,500 67.4% 1 $ 2,856,000 $ 1,400,000 -51.0% 38 $ 114,914,203 $ 189,030,500 64.5% 2024 53 $ 156,565,457 $ 278,693,857 78.0% 5 $ 10,851,956 $ 19,018,097 75.3% 58 $ 167,417,413 $ 297,711,954 77.8% 2025 57 $ 157,543,687 $ 277,165,317 75.9% 7 $ 9,450,083 $ 11,813,683 25.0% 64 $ 166,993,770 $ 288,979,000 73.0% Source - Coren & Cone
Transfer of Ownership
General
Fund
Expenses
• $8.85 Million – +7.7%
• Sheriff’s Contract - +$488K
• $584K - Deficit
General
Fund
Expenses
• Still Under Review
• Services (Subscriptions)
• Consultants
• Transfers Out
Salaries
• Total FTE 15
• Proposed Positions
• Finance Manager
• Senior Development Review Technician/Building Inspector • Accountant I
Budgeted Positions
Administration Status Planning & Building
Town Manager Filled Planning & Building Director Filled Assistant Town Manager Filled Senior Planner Filled
Administrative Services Manager Filled Senior Development Review Technician/BI Proposed Town Clerk Filled
Administrative Analyst Filled
Administrative Analyst Filled
Finance Public Works / Facilities Maintenance
Finance Manager Proposed Town Engineer Filled
Senior Accountant Filled Maintenance Worker III Filled
Accountant I Proposed Maintenance Worker III Filled
Total FTE 15.0
Retirement
Employer Contribution Rates
Classic Inc/Dec PEPRA Inc/Dec
FY 2021-22 10.34% 0% 7.59% 0%
FY 2022-23 10.32% -0.02% 7.47% -0.12%
FY 2023-24 11.84% 1.52% 7.68% 0.21%
FY 2024-25 11.88% 0.04% 7.87% 0.19%
FY 2025-26 11.94% 0.06% 7.96% 0.09%
FY 2026-27 11.92% -0.02% 7.93% -0.03%
• Two Tiers
• Classic – 2% @ 55
• PEPRA – 2% @ 62
• Employee Contribution Rate
• Classic – 7.00%
• PEPRA – 7.75%
• Total Contributions
• FY 23-24 - $173,836
• FY 24-25 - $136,587
• FY 25-26 - $111,223
• FY 26-27 - $135,000 (est)
Unfunded Accrued
Liability (UAL)
• The difference between the actuarily
determined pension liability and the
market value of assets (MVA) held at
CalPERS amortized on an annual basis
over years.
• Agencies can elect one-time
prepayment for savings
• Pension Liability – $1.97 Million
• Accrued Liability - $10.97 Million
• MVA - $9.0 Million
Unfunded Accrued Liability - UAL
Classic PEPRA Total
FY 2021-22 87,654 3,927 91,581
FY 2022-23 103,055 4,125 107,180
FY 2023-24 93,769 - 93,769
FY 2024-25 129,326 2,216 131,542
FY 2025-26 162,957 4,802 167,759
FY 2026-27 194,952 - 194,952
Medical
• Anthem rates have increased 12% on average since FY 2021-22 • Kaiser rates have increased 8% on average since FY 2021-22 • Since premium increases go into effect Jan 1 assumes a 5% increase in medical premiums
• Rates displayed are for employee only plans
Medical Premium
Anthem Perc Kaiser Perc
FY 2021-22 1,057.01 0% 857.06 0%
FY 2022-23 1,200.12 13.54% 913.74 6.61%
FY 2023-24 1,314.27 9.51% 1,021.41 11.78%
FY 2024-25 1,476.10 12.31% 1,112.90 8.96%
FY 2025-26 1,670.14 13.15% 1,168.86 5.03%
FY 2026-27* 1,870.56 12.00% 1,262.37 8.00%
*Projected
Medical
Medical Premium
Premium Increase Perc
FY 2021-22 154,340.00 - -
FY 2022-23 188,125.00 33,785 21.89%
FY 2023-24 207,374.00 19,249 10.23%
FY 2024-25 193,046.00 (14,328) -6.91%
FY 2025-26 224,453.00 31,407 16.27%
FY 2026-27* 251,387.36 26,934 12.00%
Contract Services
Some Town services are
supported through contract
providers and consultants
•Town Attorney
Public Safety
•San Mateo County
Sheriff’s Office
•Woodside Fire Protection
District
Planning & Building
•Good City - Planning
•CSG Consultants –
Building, inspections, Plan
review
•Interwest – Engineering,
CIP project management
•Shums Coda – Permit
processing
Subscriptions
•OpenGov
•Other IT infrastructure
•Microsoft365
•Other Planning/Building
infrastructure
•Starlink
•Ring
•Zoom
San Mateo
County Sheriff • $197K increase to FY 26-27
contract
• $488K - Increase to FY 26-27
GF Budget • $197K Increase • $211K expired credit • $100K use of ARPA funds
• Will use an additional
$20K in COPS funding
Sheriff Contract
Fiscal Year Amount Increase Percentage
FY 2018-19 1,058,278 - 0.00%
FY 2019-20 1,153,523 95,245 9.00%
FY 2020-21 1,257,340 103,817 9.00%
FY 2021-22 1,370,500 113,160 9.00%
FY 2022-23 1,493,845 123,345 9.00%
FY 2023-24 2,346,584 852,739 57.08%
FY 2024-25 2,382,817 36,233 1.54%
FY 2025-26 2,339,626 (43,191) -1.81%
FY 2026-27 2,536,758 197,132 8.43%
Woodside Fire
Protection District
• Crew – costs associated with the Town
right-of-way vegetation management
program covering 60 days
• Chipper – costs associated with the
Town’s share of the annual Chipper
program
• FME – costs associated with the Fuel
Mitigation Engineer/Education.
Woodside Fire Protection District
Fiscal Year FME Chipper Crew Total
FY 2020-21 35,532 26,533 26,140 88,205
FY 2021-22 36,960 38,553 67,778 143,291
FY 2022-23 38,816 47,954 199,634 286,404
FY 2023-24 41,969 40,133 146,459 228,561
FY 2024-25 55,384 68,911 121,391 245,686
FY 2025-26 59,179 47,843 134,646 241,668
FY 2026-27 59,179 38,569 142,300 240,048
Capital Improvement
Plan (CIP)
• Post adoption decisions on CIP
• Ford Field Bathroom
• Valley Oak Trail Bridges
• Shawnee Pass Speed Humps
Category
Project Amount 101 401 201 206 211 212 213 222
2025-001 Annual Street Resurfacing $ 905,559 $ - 156,903 - 120,526 421,130 57,000 150,000 - 2026-002 Annual Street Resurfacing - ADA 60,000 - - - 12,000 36,000 - 12,000 - 2025-003 Storm Drain Repairs 20,000 - 20,000 - - - - - - Total - Roads & Right of Way $ 985,559 - 176,903 - 132,526 457,130 57,000 162,000 - 2025-004 Ford Field Bathroom - Design $ - $ - - - - - - - - 2025-005 Town Courts Resurfacing - - - - - - - - -
Total - Parks & Fields $ - - - - - - - - -
2025-006 Valley Oak Trail Bridges $ - $ - - - - - - - - 2025-007 Trail Rehabilitation 25,463 - 25,463 - - - - - - Total - Open Space 25,463 - 25,463 - - - - - -
2025-008 Town Hall Energy Efficiency Upgrades $ 64,415 $ - - 64,415 - - - - - 2025-010 Town Hall IT Upgrades - - - - - - - - -
2025-011 Schoolhouse IT Upgrades - - - - - - - - -
2026-001 EV Charging Stations 381,777 64,777 - 317,000 - - - - - Total - Buildings & Facilities 446,192 64,777 - 381,415 - - - - - Total - CIP Budget 1,457,214 64,777 202,366 381,415 132,526 457,130 57,000 162,000 - Buildings & Facilities
Funding
Parks & Fields
Open Space
Roads & Right of Way
Fiscal
Forecast
Questions & Direction