City Council

12.3 Proposed Fiscal Year 2025-2026 Budget\nRECOMMENDATION: Staff recommends that the City Council receive\nand file the proposed budget. Staff also recommends that the City\nCouncil provide directions to staff on the proposed budget.\nCONCLUSION: The preliminary proposed budget will result in a FY\n2024-2025 All City Funds budget of $79,793,482. The City has\nremaining CIP projects of $36,504,445 with $7,428,874 in new\nappropriations for FY 2025-2026. Once the budget is adopted by the\nCity council, the final budget document will be compiled and\npublished on the City’s website. The budget will be monitored\nthroughout the year and will be reanalyzed during the mid-year\nbudget review.\nFISCAL IMPACT: The preliminary proposed budget will result in a\ntotal FY 2025-2026 All Funds budget of $79,793,482. Theproposed City\nbudget includes General Fund expenditures of $50,060,167 and\nprojected General fund revenues of $50,060,167 which results in a\nzero balanced budget. The proposed budget includes a $200,000\ntransfer to General Fund reserves which will grow the contingency\nreserve to $4,700,000 which is 9.3% of General Fund proposed\nexpenditures.\nATTACHMENTS:\nExhibit 1 - FY 2025-2026 Budget Presentation