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FY2025-26 Third Quarter Budget Update and Proposed Appropriation Adjustments
<br /> June 2, 2026
<br /> Page 2
<br /> in the General Fund Revenue section of this report. The City's General Fund Reserve
<br /> Policy requires a reserve equal to 18% of recurring revenue, and the revenue increase of
<br /> $1,910 raises the reserve requirement by $344.
<br /> A General Fund summary as of March 31, 2026, follows.
<br /> General Fund Proposed Third
<br /> FY2025-26 General Fund Summary Activity through Quarter Updated Estimates
<br /> March 31,2026 Adjustments
<br /> Estimated Beginning Balance at July 1,2025 $ 97,650,804 $ - $ 97,650,B04
<br /> Revenue Estimate $ 414,059,048 $ 1,910 $ 414,060,958
<br /> Appropriated Spending $ (424,600,091) $ - $ (424,600,091}
<br /> FY25-26 Contribution to Pension Stabilization $ (1,000.000)
<br /> Trust $ - $ (1,000,000)
<br /> Estimated Ending Balance at June 30,2026 $ 86,109,761 $ 1,910 $ 86,111,671
<br /> Less: 18% Reserve' $ 74,482,686 $ 344 $ 74,483,030
<br /> Estimated Spendable Balance $ 11,627,075 $ 1,566 $ 11,628,642
<br /> 'The City's 18%reserve policy applies to annual recurring revenue only.
<br /> General Fund Revenue
<br /> A summary of General Fund revenue follows.
<br /> AnnualBudget
<br /> Estimate through Received .;
<br /> Revenue Source 0313112026 0313112026 - - .
<br /> Property Tani Property Tax In-Lieu 96,523.310 55,573,671 57.6%
<br /> Sales Tax (Measure X) 83,142.580 48,561,773 58.4%
<br /> Sales Tax (Bradley Burns) 58,911.390 33,697,005 57.2%
<br /> Other General Fund Revenue 49.662.408 36,908,392 74.3%
<br /> Charges for Service 32,464.400 26,522,286 81.7%
<br /> Utility Users Tax 29,250,000 2D,252,436 69.2%
<br /> Business License 17,500,000 12,876,553 73.6%
<br /> Franchise Fees 13,600,000 6,984,757 51.4%
<br /> Cannabis Revenue 12,651,460 7,725,851 61.1%
<br /> Jail Revenue 10,853,500 6,162,820 56.8%
<br /> Hotel Visitor's Tax 9,500,000 6,178,360 65.0%
<br /> ' Total General Fund Revenue 414,059,048 61,443,904 63.1%
<br /> The City has received approximately $261.4 million in General Fund revenues through
<br /> March 31, 2026, representing 63.1% of the annual revenue estimate. Because the City
<br /> continues to accrue revenues through the end of August, current collections indicate that
<br /> overall FY25-26 revenue targets remain on track.
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