fy 24/25 & 25/26proposed budget
June 3,2024
Tonight’s discussion:
Review proposed budget for FY 24/25 & 25/26 which includes:
General Fund Discussion
Recommended Positions
Future Challenges
Council has reviewed all capital projects and Measure N at previous meetings Council concerns arising from tonight’s discussion will be brought back on June 17th or sooner (if needed)
Budget process calendar
Budget revisions
The adopted budget can be revised at any regular scheduled Council meeting.
Throughout the year staff will continue to monitor revenues and expenditures.
Future Presentations
March 2025 - Mid-Year budget review (focus on 24/25)
June 2025 – Mid-Cycle budget review (focus on 25/26)
March 2026 - Mid-Year budget review (focus on 25/26)
Budget goals & priorities
FY 24/25 & 25/26 Proposed Budget
FY 24/25 & 25/26 Proposed Budget
Budget includes 16newpositions
General fund proposed budget
General fund revenues
Growth Assumptions in top 5 revenues:
24/25 25/26
Sales Tax -1% 1%
Property Tax 3% 2%
Franchise Tax 2% 2%
Transit Occupancy Tax 1% 1%
Business License Tax 1% 1%
Sales tax
property tax
General fund expenditures
Salaries & Benefits are 74% of GF total expenditures
General Fund expenditures
Public Safety = 61%
Generalfund reserve policy
Transfer surplus to the Emergency Reserve Fund up to 30% of operating expenditures Any surplus remaining above the 30% be deposited into the Civic Center Facility Reserve Fund
Current general fund debt
5-year general fund forecast
Special revenue & capital funds
The major funds (Measure R, N, & T, Gas tax) revenues are from taxes:
Projecting a 7% loss in the current year
Budget assumes 0% in 24/25 and 1% in 25/26
Funding several Capital Projects:
FY 24/25 - $27.2 million (86 projects)
FY 25/26 - $45.6 million (84 projects)
These categories includes 46 Funds which includes Impact Fees that fund new infrastructure for Parks, Streets, Sewer & Storm
Enterprise & internal service funds
Enterprise Funds:
39% of City’s total budget
Proposed budget 24/25 - $116.9 million & 25/26 - $125.8 million Includes capital projects
FY 24/25 - $29.1 million (97 projects)
FY 25/26 - $35.4 million (60 projects)
Internal Service Funds:
FY 24/25 - $24.8 million (12 projects)
FY 25/26 - $27.2 million (18 projects)
Tonight’s action
No action required tonight, Council may choose to hold an additional meeting on June 10th Next scheduled meeting is June 17th:
Continue Budget Presentation and Discussion
Conduct a Public Hearing
Potentially Adopt the City Budget for FY 24/25 & 25/26
QUESTIONS