Fiscal Year 2019-20 adopted Budget

The City’s budget continues to reflect a strong local economy that is stimulating development and significant property tax growth.  Most economists still believe the State and regional fundamentals of employment and job growth are strong and that the chance of a recession over the next 24 months is possible but low.  Although it is uncertain when the next economic slowdown will occur, based on history, it is highly likely one will occur in the near future.  Consequently, the City’s budgetary forecast assumes an economic downturn beginning in Fiscal Year 2020-21 and continuing into Fiscal Year 2021-22.  The Adopted Budget document details the City Manager's recommendations for Fiscal Year 2019-20, supplements to reserves, commitment to sustainability, and continuing contributions to the California Public Employees' Retirement System (CalPERS).

The Fiscal Year 2019-20 Annual Budget, Water, Wastewater, and Trash and Recycling Rates, and Various City Fees were presented to the City Council at a public hearing on Tuesday, June 11, 2019 and adopted at the second public hearing on Tuesday, June 18, 2019.

Fiscal Year 2019-20 Adopted Budget Report

Fiscal Year 2019-20 Adopted Budget Presentation 

Fiscal Year 2019-20 Proposed Budget Report

Fiscal Year 2019-20 Proposed Budget Presentation

Fiscal Year 2019-20 Narrative Budget Report

Fiscal Year 2019-20 Narrative Budget Presentation

Fiscal Year 2018-19 ADOPTED Budget

The City is benefiting from the continued strong economy resulting in significant property tax growth.  The total Adopted Budget for Fiscal Year 2018-19 is $328.1 million in revenues and $359.2 million in expenditures.  Expenditures are greater than revenues, as some expenditures such as capital projects, are funded from existing available resources.  Continuing to focus on adding resources where most needed and to the extent the long-term budget will allow, additional positions are added for Fiscal Year 2018-19.  A total of 12.5 net positions are ongoing positions and there are a net of 15.0 new positions.  In addition, the Fiscal Year 2018-19 Adopted Budget details the supplements to reserves, continuing contributions to CalPERS, and two new reserves for Transportation and Sea Level Rise.

For the General Operating Fund (GOF), the Adopted Budget includes $1.7 million in new ongoing expenditures and $4.9 million in new limited period expenditures.  These increases will support ongoing services and key priorities identified by the City Council.  Including the recommendations for new spending, a positive ending balance of $3.7 million is projected for Fiscal Year 2018-19.  Positive operating balances are projected through Fiscal Year 2020-21, in the GOF 10-year Financial Forecast, but assumes deficits will return with the next recession.

The Annual Budget, Water, Wastewater and Trash and Recycling Rates, and Various City Fees were presented to the City Council at a public hearing on Tuesday, June 12, 2018 and adopted at the second public hearing on Tuesday, June 19, 2018.

FY 2018-19 Adopted Budget

FY 2018-19 Adopted Budget Presentation

FY 2018-19 Proposed Budget

FY 2018-19 Proposed Budget Presentation

FY 2018-19 Narrative Budget Report

FY 2018-19 Narrative Budget Report Presentation