|
Proposed Fiscal Year 2026-27 City Budget, Changes to the City's Classification and
<br /> Compensation Plan, Uniform Schedule of Miscellaneous Fees, and the Seven-Year
<br /> Capital Improvement Program
<br /> June 2, 2026
<br /> Page 3
<br /> The General Fund is the City's primary operating fund and accounts for all unrestricted
<br /> revenue. A summary of the proposed FY26-27 General Fund activity is provided below.
<br /> a
<br /> FY26-27
<br /> General 4 Revised • 4 - Proposed Budget
<br /> Beginning Balance $ 97,650,804 $ 86,111,671
<br /> Revenue $ 414,060,958 $ 427,349,780
<br /> Expenditures $ (392,591,591) $ (397,341,340)
<br /> Net Transfers $ ( 2,008,500) $ (37,695,160)
<br /> NetActivit'4 $ (10,539,133) $ (7,686,720)
<br /> Pension Stabilization $ (1,000,000) $ (1,500,000)
<br /> Estimated Ending Balance $ 86,111,671 $ 76,924,951
<br /> Reserve Requirement` $ 74,483,030 $ 76,9.22,960
<br /> The FY25-26 Revised Budget assumes City Council approves the
<br /> recommended Third Quarter General Fund Adjust meaas on June 2; 2626.
<br /> 2 Tire 18% Reserve regui.remenl applies to recurring revenue only.
<br /> The proposed FY 2026-27 General Fund budget is balanced, with recurring revenues
<br /> totaling $427,349,780, equal to recurring expenditures. City Council's Budget and
<br /> Reserve Policy requires a General Fund Reserve equivalent to 18% of annual recurring
<br /> General Fund revenue, and staff estimates the General Fund Reserve will remain
<br /> compliant with this policy through June 30, 2027. After accounting for the required reserve
<br /> level, $9,186,800 in one-time uses is proposed to be funded through estimated spendable
<br /> fund balance, including a $1.5 million contribution toward pension stabilization. A full
<br /> reconciliation of changes from the revised FY 2025-26 budget to the proposed FY 2026-
<br /> 27 budget is included in Exhibit 1.
<br /> The following is a summary of the proposed FY26-27 General Fund budget, identifying
<br /> recurring and one-time activities.
<br /> FY25-26 Proposed General Fund Budget Recurring One-Time Total
<br /> Revenue $ 427,349,780 $ 427,349,780
<br /> Expenditures $ (302,341,340) $ (5,000,000) $ (307,341,340)
<br /> Net Transfers $ (35,008,3&0) $ (2,686,8GG) $ (37,605,160)
<br /> Pension Stabilization $ - $ (1,500,000) $ (1,500,000)
<br /> Net Activity $ 80 $ 9 18E.800
<br /> General Fund Ten-Year Outlook
<br />
|