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Proposed Fiscal Year 25-26 Mid -Year Budget Update, Appropriation Requests, <br />Workforce Changes, and Capital Improvement Program Amendment <br />March 3, 2026 <br />Page 3 <br />General Fund Revenue <br />A summary of General Fund revenues through December 31, 2025 follows. <br />Property Taxi Property Tax In -Lieu of VLF <br />95,877,210 <br />20;083;780 <br />27.2% <br />Sales Tax (Measure ) <br />83,953,880 <br />27;494;022 <br />32.7% <br />Sales Tax (Bradley Burns) <br />3 <br />59-908,190 <br />19;026;861 <br />31.8% <br />Other General Fund Revenue <br />3 <br />49.431.060 <br />17_626_736 <br />35.7% <br />Charges for Service <br />3 <br />31;265;650 <br />16;877;966 <br />54.0% <br />Utility Users Tax <br />3 <br />29;250;000 <br />13;386;577 <br />45.8% <br />Business License <br />S <br />17_500.000 <br />3.414.200 <br />19.5% <br />Franchise Fees <br />$ <br />13_600.000 <br />$ <br />4.851.028 <br />35.7% <br />Cannabis Revenue <br />$ <br />12_651.460 <br />$ <br />4.091.504 <br />32.3% <br />Jail Revenue <br />$ <br />10.853_500 <br />$ <br />2.108.925 <br />20.0% <br />Hotel Visitor's Tax <br />$ <br />9_500.000 <br />$ <br />4.209.150 <br />44.3% <br />Total General Fund Revenue2 <br />413,790,950 <br />$139,230,750 <br />33.6% <br />'Section 115 Trust Javestm eat Income is excluded <br />from this analysis; the revenue generated <br />can only be spent on pension -related activities <br />As of December 31, 2025, the City generated approximately $139.2 million in revenue, <br />or 33.6%. Because the City receives most of its revenue within 60 days of the <br />corresponding period, we can expect to have received approximately four (4) months <br />(or 33%) of revenue by December 31. One notable exception is the Business License <br />Tax, which accounts for the majority of the City's revenue in the spring of each year. <br />The following section provides a discussion on General Fund performance based on the <br />latest information. <br />Sales Tax (Bradley Burns) <br />The Bradley -Burns sales tax revenue estimate for the fiscal year was $59.9 million. <br />Based on sales tax receipts from two completed quarters and updated information from <br />the City's sales tax consultant, staff has reduced the revenue estimate by $996,800 to <br />$58.9 million. <br />Sales tax receipts from July through September were 0.3 percent lower than in the <br />same period of 2024. The decline was driven primarily by the closure of several used - <br />car dealerships, which significantly reduced auto and transportation receipts, as well as <br />by generally softer consumer spending. Building construction receipts were also lower, <br />as one-time contractor revenues recorded in the prior year did not recur. In addition, <br />restaurant sales, particularly among quick -service and casual dining establishments, <br />