REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Travis Hopkins, City Manager
PREPARED BY: Robert Torrez, Interim Chief Financial Officer
Subject:
title
Fiscal Year 2025-26 Proposed Budget Review
body
Statement of Issue:
The City Charter requires the City Manager to submit the proposed budget to the City Council at least thirty days prior to the beginning of each fiscal year. After reviewing the proposed budget and making such revisions as it may deem advisable, the City Council shall hold a public hearing thereon at least fifteen days prior to the beginning of each fiscal year. The Proposed Budget for Fiscal Year 2025-26 is presented for City Council consideration.
Financial Impact:
A proactive Budget Balancing Plan was implemented as part of the Fiscal Year 2025-2026 Proposed Budget to address an anticipated budget deficit. The Budget Balancing Plan identified additional offsetting revenues and expenditure reductions that will be discussed. The FY 2025-2026 Proposed Budget is structurally balanced. The proposed Citywide expenditure budget for all funds is projected at $588.9M, subject to change prior to May 20. The General Fund proposed expenditure budget totals $297.5M. Expenditures for all funds and departments are offset by a combination of expenditure reductions, revenues, one-time transfers, and prudent use of reserves.
Recommended Action:
recommendation
A) City Council receive and discuss the Proposed Budget for Fiscal Year 2025-26; and
B) Set the date for adoption of the City budget as June 3, 2025. A meeting date of June 17, 2025, is set as an alternative should the City Council require additional deliberation to approve the budget.
end
Alternative Action(s):
Do not approve and direct staff accordingly.
Analysis:
Adoption of the City Budget is the most important decision that the City Council is required to make each year. The City Budget establishes funding for every City program...
Click here for full text