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1/2/2025
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<br />Long-Range Financial Planning (cont.)
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<br />•Use of one-time money such as pension trust funds will not solve the structural deficit
<br />Reserves Depleted
<br />2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
<br />Budget Budget Est. Est. Est. Est. Est. Est. Est. Est.
<br />Revenues 150,932,872$ 155,243,805$ 158,247,600$ 162,894,450$ 166,700,100$ 171,656,200$ 176,767,300$ 182,039,400$ 187,476,800$ 193,084,700$
<br />Expenditures 150,928,760$ 155,714,679$ 169,036,417$ 174,700,785$ 180,579,690$ 187,138,974$ 192,445,878$ 197,393,974$ 201,712,934$ 206,220,954$
<br />ANNUAL SURPLUS/(SHORTFALL)4,112$ (470,874)$ (10,788,817)$ (11,806,335)$ (13,879,590)$ (15,482,774)$ (15,678,578)$ (15,354,574)$ (14,236,134)$ (13,136,254)$
<br />Shortfall Reduction Measures
<br />Budget Reduction (Non-Personnel) - - 2,162,000 2,206,000 2,251,000 2,297,000 2,343,000 2,390,000 2,438,000 2,487,000
<br />Drawdown of Pension Trust Funds - - 4,000,000 5,000,000 7,000,000 9,000,000 9,000,000 9,000,000 3,000,000 -
<br />Adjusted Projected Annual Shortfall 4,112$ (470,874)$ (4,626,817)$ (4,600,335)$ (4,628,590)$ (4,185,774)$ (4,335,578)$ (3,964,574)$ (8,798,134)$ (10,649,254)$
<br />General Fund Reserves
<br />Beginning Balance 50,664,595 49,908,707 49,407,833 44,781,016 40,180,681 35,552,091 31,366,317 27,030,739 23,066,165 14,268,032
<br />Ending Balance 49,908,707 49,407,833 44,781,016 40,180,681 35,552,091 31,366,317 27,030,739 23,066,165 14,268,032 3,618,778
<br />Beginning Unrestricted GF Reserve 29,559,876 29,563,988 29,093,114 24,466,297 19,865,962 15,237,372 11,051,598 6,716,020 2,751,446 (6,046,687)
<br />Ending Unrestricted GF Reserve 29,563,988 29,093,114 24,466,297 19,865,962 15,237,372 11,051,598 6,716,020 2,751,446 (6,046,687) (16,695,941)
<br />Unrestricted GF Reserve Percentage 20.0% 19.1% 15.4% 12.1% 9.0% 6.3% 3.7% 1.5%-3.2% -8.6%
<br />Recommended Unrestricted Reserve Target Level 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
<br />City of Pleasanton
<br />General Fund Ten-Year Financial Forecast
<br />Summary Level
<br />Budget Principles
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<br />•The City is always guided by the GFOA general principles in developing
<br />the budget:
<br />1.Establish broad goals to guide government decision making
<br />2.Develop approaches to achieve goals
<br />3.Develop a budget consistent with approaches to achieve goals
<br />4.Evaluate performance and make adjustments
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