|
The Two -Year Operating Budget (Operating Budget) is projected to be $248.3 million in FY
<br />2025/26, which represents a 1.9 percent increase from the FY 2024/25 Modified Budget, and
<br />$257.7 m i I I i o n i n FY 2026/27.
<br />The Operating Budget is comprised of a number of funds that are summarized in the
<br />following categories of funds, as shown below in Table 1:
<br />Table 1: Summary of Expenditures by Major Fund Types
<br />$142,496,475
<br />$154,475,775
<br />$154,782,064
<br />62.3%
<br />$160,843,080
<br />62.4%
<br />$21,007,581
<br />$19,502,923
<br />$21,801,670
<br />8.8%
<br />$21,451,347
<br />8.3%
<br />$58,979,795
<br />$62,139,614
<br />$66,007,230
<br />26.6%
<br />$70,118,886
<br />27.2%
<br />$3,396,108
<br />$6,338,544
<br />$4,541,335
<br />1.8%
<br />$4,162,883
<br />1.6%
<br />$313,111
<br />$1,200,000
<br />$1,113,750
<br />0.4%
<br />$1,115,250
<br />0.4%
<br />$16,691
<br />$40,780
<br />$7,700
<br />0.0%
<br />$7,700
<br />0.0%
<br />$226,209,762
<br />$243,697,636
<br />$248,253,749
<br />100.0%
<br />$257,699,147
<br />100.0%
<br />*Transfers are excluded from the total.
<br />The only funds not included in the Operating Budget are the Capital Projects Funds.
<br />In light of the City's financial challenges, the FY 2025/26 and FY 2026/27 operating budgets
<br />reflect significant personnel and non -personnel reductions to ensure fiscal stability and
<br />address deferred maintenance needs while maintaining core services. The operating
<br />budget also includes adjustments related to salary and fringe benefits pursuant to adopted
<br />labor agreements as well as increased PERS pension contributions. There are several non -
<br />personnel increases related to general liability insurance, utilities, and payment to Costco
<br />associated with traffic and street improvements. Increases in each expenditure category are
<br />described in more detail below.
<br />General Fund
<br />General Fund operating revenues, including transfers, are projected to total $162.9 million in
<br />FY 2025/26, a 2.6 percent increase over the FY 2024/25 Modified Budget, and $169.3 million
<br />in FY 2026/27. General Fund operating expenditures, including transfers, are projected to
<br />total $164.3 million in FY 2025/26, a 3.3 percent increase over the FY 2024/25 Modified
<br />Budget, and $170.8 million in FY 2026/27. The following chart presents a comparison of the
<br />revenues and expenditures from FY 2023/24 to FY 2026/27.
<br />28
<br />
|