Shasa Curl, City Manager
June 23, 2026
MOVING
RICHMOND
FORWARD
6/17/2026 7:46 PM 1MOVING RICHMOND FORWARD
Fiscal resilience enables us to tract, retain, and support the workforce that delivers for Richmond.
Adopt Fiscal Year (FY) 2026-27
Operating Budget and FY
2026-27 to FY 2030-31 Five-
Year Capital Improvement
Plan
June 23, 2026
Shasa Curl
Richmond City Manager
6/17/2026 7:46 PM
2 Fiscal resilience enables us to attract, retain,
and support the workforce that delivers for
Richmond.
MOVING RICHMOND FORWARD
Recommended Action
ADOPT resolutions approving: (1)
Fiscal Year (FY) 2026-27 Proposed
Operating Budget, and (2) FY 2026-
27 to FY 2030-31 Proposed Five-
Year Capital Improvement Plan
Budget
6/17/2026 7:46 PM 3
MOVING RICHMOND FORWARD
Overview
• Budget Development
• Proposed General Fund Revenues
• Proposed General Fund Expenditures
• Multi-
• Budget Adjustments (June 16, 2026
Direction)
• Recommended Action
6/17/2026 7:46 PM 4
MOVING RICHMOND FORWARD
6/17/2026 7:46 PM 5MOVING RICHMOND FORWARD
Draft Fiscal Year (FY) 2026-27
Annual Operating Budget and
FY 2026-31 Five-Year Capital
Improvement Plan
May 5, 2026
Fiscal Year 2026-27 Draft
Budget Department
Presentations and Budget
Updates
May 19, 2026
Budget Study Session on
Proposed Fiscal Year 2026-27
Operating Budget and Fiscal
Year 2026-31 Five-Year Capital
Improvement Plan and
Department Presentations
May 26, 2025
Budget Study Session on
Proposed Fiscal Year 2026-27
Operating Budget and Fiscal
Year 2026-31 Five-Year Capital
Improvement Plan
June 9, 2026
Review and Provide Direction
on the Budget Checklist for FY
2026-27 Proposed Budget and
FY 2026-31 Five-Year Capital
Improvement
June 16, 2026
Budget Adopted
June 23, 2026
FY 2026-27 Budget Development
Moving Richmond Forward 6
Current Grant Awards Exceed General Fund Budget
AmountsGrant Types
$ 146,020,548 Capital Improvement Projects Grants
$ 182,054,445 Operational Grants
$ 328,074,993 TOTAL
AmountUpcoming Grant Awards
9,500,000 Reconnecting Communities Pilot (RCP) – Richmond Wellness Trail Phase II (RWT II) & Neighborhood Complete Streets (NCS) 10,000,000Regional Measure 3 (RM3) - RWT II & NCS
11,200,000 Dock restoration and infrastructure improvement 30,700,000 TOTAL
Amount New Grant Awards (included in $328M)
255,000 Caltrans Community Clean-up & Employment Pathways 60,000 Tahoe for All
40,000 Community Development Block Grant
4,500 Kaiser Sponsorship
2,034,800 CalVIP 5
750,000 Offshore Wind Conceptual Planning
10,250,000 Multi-site Trash Capture Device
13,394,300 TOTAL
AmountNew Grant Applications Submitted
22,360,000
Parchester (Griffin Rd + John Ave); Chesley Ave; Cutting Blvd./Carlson Blvd feasibility study; Ferry to Bridge to Greenway (5 rail crossings) - Railroad Crossing Elimination (RCE) Grant Program
16,384,000Richmond Greenway Gap Closure (BUILD + CPF + CDS) 15,000,000
Bay Area Air District's Quality Local Community Benefit Fund – Catalyst (MLK Community Center, Richmond moves, Rooted, Resilient Homes, etc)
32,757,931Various 10 Projects/Program with 14 Grant applications 86,501,931 TOTAL
$146,020,548
$182,054,445
Grant Awards $328,074,993
Capital Grants
Operational Grants
General Fund Revenues Adjusted to Exclude
Residential Taxes
6/17/2026 7:46 PM 7MOVING RICHMOND FORWARD
FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 OTHER REVENUES 6,595,447 6,656,848 6,376,246 8,601,466 10,468,393 OPER XFERS IN 3,946,286 4,010,819 7,942, 946 8,707,069 9,784,607 LICENSES, PERMITS & FEES 5,908,125 11,132, 527 18,221,104 16,839,828 16,990,845 OTHER TAXES 27,066,292 26,573,076 19,623,677 18,754,991 27,189,502 UTILITY USERS TAX 45,240,705 48,373,587 54,676,023 59,120,237 63,825,320 SALES & USE TAX 43,216,081 47,662,041 49,278,185 54,632,420 52,750,015 PROPERTY TAXES 23,399,629 25,936,849 28,9 55,211 29,660,955 30,095,784 $0
$50
$100
$150
$200
$250 Millions
Notes on Adjustments:
1. Calculated the share of Residential Assessed Valuation (AV) using the County’s Equalized Roll. Residential properties account for 60% of total AV; all other property types account for 40%.
2. Identified the three revenue streams that are directly tied to AV: Secured Property Taxes, Vehicle License Fee Backfill Swap, and Operating Transfer-In from the PTORS Fund.
3. Reduced these three revenue streams by 60% to estimate General Fund revenues excluding residential taxes.
FY 2026-27 Proposed General Fund Draft Budget
6/17/2026 7:46 PM 8MOVING RICHMOND FORWARD
FY 2026-27
Proposed Draft
Budget
June 23, 2026
FY 2026-27
Proposed Draft
Budget
June 16, 2026
FY 2026-27
Proposed Draft
Budget
May 5, 2026
FY 2025-26
Revised BudgetGeneral Fund
(324,670,119)(324,670,119)(323,836,742)(309,961,114)Total Revenues 276,170,119276,170,119275,336,742274,589,413Total Expenditures (48,500,000)(48,500,000)(48,500,000)(35,371,700)Net (-Surplus)/+Deficit 13,128,300Use Of Fund Balance (One-
Time)
(48,500,000)(48,500,000)(48,500,000)(48,500,000)Remaining Limited-Term Revenue
Expenditure appropriations do not include limited-term revenues FY 2026-27 Proposed General Fund Revenue Budget
6/17/2026 7:46 PM 9MOVING RICHMOND FORWARD
Change
June 16
vs.
June 23
FY 2026-27 Draft
Budget June 23,
2026
FY 2026-27
Draft Budget
June 16, 2026
FY 2025-26 Revised
Budget General Fund
-60,134,838 60,134,838 58,329,291 Property Taxes
-63,437,266 63,437,266 60,163,807 Sales & Use Tax
-70,472,872 70,472,872 66,351,265 Utility Users Tax
-28,399,004 28,399,004 28,399,659 Other Taxes
-18,359,604 18,359,604 17,274,036 Licenses, Permits & Fees -760,000 760,000 200,000 Fines & Forfeitures
-3,530,545 3,530,545 3,030,545 Interest Income
-4,621,757 4,621,757 3,724,495 Charges For Services
-50,187,500 50,187,500 50,167,500 Other Revenue
-766,657 766,657 791,157 Rental Income
-150,000 150,000 150,000 Intergovernmental State Taxes
-230,000 230,000 180,000 Intergovernmental State Grant
-290,000 290,000 290,000 Intergovernmental Other Grant
-15,000 15,000 15,000 Proceeds From Sale of Property
-40,400 40,400 40,400 Loan/Bond Proceeds
-23,274,676 23,274,676 20,853,959 Operating Transfers In -324,670,119 324,670,119 309,961,114 Total Revenues
FY 2026-27 Proposed General Fund Expenditure Budget
6/17/2026 7:46 PM 10MOVING RICHMOND FORWARD
Change
June 16
vs.
June 23
FY 2026-27 Draft
Budget June 23,
2026
FY 2026-27
Draft Budget
June 16, 2026
FY 2025-26
Revised Budget General Fund
-101,692,402 101,692,402 96,457,653 Salaries & Wages
-83,604,741 83,604,741 75,086,982 Fringe Benefits
-28,743,511 28,743,511 28,218,980 Professional & Administrative -8,679,889 8,679,889 8,528,480 Other Operating
-7,302,430 7,302,430 7,828,970 Utilities
-5,491,635 5,491,635 5,337,487 Equipment & Contract Services -50,500 50,500 46,500 Provision For Insurance Loss
(650,000)18,596,861 19,246,861 21,145,184 Cost Pool
-3,455,390 3,455,390 3,417,773 Asset/Capital Outlay
-174,047 174,047 775,647 Debt Service Expenditure
-(3,530,279)(3,530,279)(3,362,171)Cost Plan Reimbursement ----Grant Expenditures
650,000 21,908,991 21,258,991 31,107,929 Transfers Out
-276,170,119 276,170,119 274,589,413 Total Expenditures FY 2026-27 Proposed Non-General Fund Revenue
Budget
6/17/2026 7:46 PM 11MOVING RICHMOND FORWARD
Change
June 16
vs.
June 23
FY 2026-27 Draft
Budget June 23,
2026
FY 2026-27
Draft Budget
June 16, 2026
FY 2025-26
Revised BudgetNon-General Fund Revenues
1,093,141 61,912,501 60,819,360 87,326,393 Total Capital Improvement Fund -19,369,038 19,369,038 19,142,975 Total Debt Service Funds -55,298,998 55,298,998 54,903,962 Total Enterprise Funds -1,209,470 1,209,470 2,109,250 Total Housing Funds
260,073 5,419,652 5,159,579 4,485,250 Total Housing Authority Funds (650,000)33,113,666 33,763,666 34,720,066 Total Internal Service Funds (260,073)17,667,059 17,927,132 25,871,067 Total Other Operations Funds (33,912)77,570,286 77,604,198 93,107,915 Total Special Revenue Funds 409,229 271,560,669 271,151,440 321,666,878 Total Non-General Fund Revenues FY 2026-27 Proposed Non-General Fund Expenditure
Budget
6/17/2026 7:46 PM 12MOVING RICHMOND FORWARD
Change
June 16
vs.
June 23
FY 2026-27 Draft
Budget June 23,
2026
FY 2026-27
Draft Budget
June 16, 2026
FY 2025-26
Revised BudgetNon-General Fund Expenditures
(6,222,841)103,633,172109,856,013152,829,842Total Capital Improvement Fund -19,470,07519,470,07519,232,511Total Debt Service Funds 723,34076,131,83775,408,49787,192,680Total Enterprise Funds -4,538,8584,538,8584,730,459Total Housing Funds
145,0315,454,6525,309,6214,494,250Total Housing Authority Funds (650,000)49,444,87350,094,87352,935,289Total Internal Service Funds 187,81821,161,91920,974,10131,141,190Total Other Operations Funds (297,772)81,047,94581,345,717123,293,809Total Special Revenue Funds (6,114,424)360,883,331366,997,755475,850,030Total Non-General Fund Expenditures General Fund Budget Adjustments from June 16, 2026
6/17/2026 7:46 PM Moving Richmond Forward 13
Hilltop Green Wildfire Mitigation Reallocation – $60,000 • Reallocated existing wildfire-mitigation funding within Public Works (Parks & Landscaping)
• Supports emergency egress improvements for Hilltop Green • No net impact to the General Fund (GF)
Fleet Cost Pool Reductions and Transfer to General Capital – $650,000 • FY 2026-27 fleet replacement deferred per City Council direction • Removes $470,000 in Fire fleet cost-pool charges
• Removes $180,000 in City-wide fleet cost-pool charges • Creates $650,000 GF savings, redirected as a Transfer Out CIP Budget Adjustments from June 16, 2026
6/17/2026 7:46 PM Moving Richmond Forward 14
Notes / PurposeAmount ($)FundProject
Identified project shortfall needing funding1,045,000General CapitalRichmond Wellness Trail Phase II
Identified project shortfall needing funding1,000,000General CapitalSan Francisco Bay Trail at Point Molate
Identified shortfall for change orders196,000General
Capital
Shields-Reid Park (anticipated change
orders)
Identified shortfall for change orders435,000General
CapitalWendell Park (anticipated change orders)
Total funding needed2,676,000Total Shortfalls
Design phase deferred to free funding(189,800)General
Capital
Corporation Yard Fuel Site Upgrades
(deferral)
Scope removed; can be absorbed by
existing maintenance(200,000)General
Capital
Civic Center Plaza Landscaping (project
removal)
Funding reallocated; grants expected
to backfill(1,250,000)General
CapitalPoint Molate Trail Beach Stabilization
Scheduled fire vehicle replacement
deferred(470,000)Equipment
ServicesFire Fleet (deferral)
Vehicle replacements deferred across
departments(180,000)Equipment
ServicesCity-wide Fleet (deferral)
Reallocation; grants projected to
support future needs(386,200)General
CapitalParks and Open Space Program
Matches total shortfall2,676,000Total Available Funding Recommended Action
ADOPT resolutions approving: (1)
Fiscal Year (FY) 2026-27 Proposed
Operating Budget, and (2) FY
2026-27 to FY 2030-31 Proposed
Five-Year Capital Improvement
Plan Budget
6/17/2026 7:46 PM 15
MOVING RICHMOND FORWARD
16 Questions?
MOVING RICHMOND FORWARD6/17/2026 7:46 PM