[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6571571,"mediaKeyId","3163887-998b707a50132a5cb2eb079dddb1e952","parentId",3163887,"title","Upland finance committee recommends repurposing some reserves to address road funding; keeps pension stabilization intact","audioSeconds",2816,"startMs",960310,"endMs",3776910,"viewUrl","/Search/View?dp=1&key=3163887-998b707a50132a5cb2eb079dddb1e952&start=960&end=3776","thumbnailUrl","https://assets.pipeline.soar.com/3163887-998b707a50132a5cb2eb079dddb1e952/thumbnail_960310.jpg","articleUrl","/articles/6571571/Upland/San-Bernardino-County/California/Upland-finance-committee-recommends-repurposing-some-reserves-to-address-road-funding-keeps-pension-stabilization-intact","mediaUrl","https://secure.pipeline.soar.com/6571571-0a6abf8933e9b3de5b5ac183b19c3b13/orig.mp4?Expires=1771201492&Signature=A3SOzo3vA~9EO4aOt~z0wJ9KNvpTbzCHEc3cVaLQjjBePAgmTirPgVwMn6Bigru9nmWjzIv~mzBialgu4HiMzfX9Kz79wxAf7ODKl3~uw9Bj83WRow4yQ7aigCy-sC98W1vHde5JHAN9xDMpaHIO42O1lS6lPgLvOfv9umJBsKs5ft9vcP7HZfX~UnyVCVM0ysVeViGg3xxS-xH4CwP1OnxUgOHtmYKhGDwcx0whkfPopc59rgQizicQxYrcYi80tgpOUQECSluAuPcbpE4013BzDHIxRomWigE3gEPjVwqVM48mDdAmWAA2OAn~FfvJ2u27qgGwWwGgfPJwyQAWlg__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Upland","date","2025-04-30T00:00:00Z","article","The Upland Finance Committee agreed April 30 to forward a package of changes to the city council that would shift several reserve funding streams toward infrastructure needs while leaving the pension-stabilization reserve intact.

Finance Manager Stacy Sullivan and Assistant City Manager Steven Parker presented the existing reserve-policy structure and several options for reallocating year-end surpluses. The committee's majority view, summarized to council staff, was to keep the pension stabilization reserve at its current 40% target but to repurpose other sources to help address the city's pavement and infrastructure shortfall.

Committee recommendations being sent to council (as summarized by staff and confirmed by council members during the meeting) include:
- Keep the pension-stabilization reserve at 40% of the stated target (no reduction).
- Stop ongoing annual contributions to the OPEB (other post-employment benefits) trust (set annual contribution to 0%, while leaving the existing balance in place).
- Remove the 0.25% operating-year transfer that had been set aside for building replacement/maintenance and instead use the available balance to cover near-term revenue shortfalls; the presentation estimated that removing the 0.25% would free about $157,000 for the upcoming fiscal year.
- Eliminate ongoing general-fund surplus contributions to a general-plan update reserve (the general plan will still receive fee-based funding tied to building permits) and allow remaining fees to persist.
- Increase the infrastructure-improvement reserve allocation so more surplus dollars flow to roadway and capital needs (staff presented an option to increase the infrastructure allocation up to 40%).

Committee members repeatedly emphasized the severity of the pavement-management findings. One council member described the pavement study's scale: \"to get to a C grade of our streets, it was, what, $55,000,000 a year, which we current I I thought that It was, around 25 if I remember right,\" (committee member, paraphrased in discussion and reflecting competing figures discussed during the meeting). Staff referenced a separate estimate that approximately $25,000,000 per year would be required over multiple years to begin improving the system; council members noted the figures were large compared with the incremental dollars they were discussing for reserve reallocation.

Stacy Sullivan summarized the policy context: \"The general plan is updated on a roughly 10 year basis\" and the last plan update had an estimated cost in the low millions; the city had set a target of $2,000,000 for the general-plan reserve after prior discussion. Sullivan also presented the current balances for key funds and liabilities:
- 115 trust (pension-related fund): approximately $10,216,000 in balance.
- Unfunded Accrued Liability (UAL) for pensions: approximately $104,000,000 (staff described this as the city's largest long-term liability).
- OPEB trust balance: approximately $2,600,000.
- Building-maintenance fund balance: approximately $3,200,000.
- Annual ongoing pension cost estimated at about $10,000,000 for the upcoming fiscal year (staff noted an approximate $200,000 projected increase next year that council has already set aside).

Council members expressed concern about cutting pension-protection measures given CalPERS's volatility; as one member stated, the current approach has helped \"stop the bleed\" on pension liabilities. For that reason the committee reached consensus to keep the pension stabilization level at 40% and not reduce it at this time.

Next steps: Staff will prepare the formal recommendation and ordinance changes to go before the full city council at a future meeting (staff indicated the recommendation would be presented to council for approval and take effect if adopted). The committee also asked that the reserve policy be reviewed at the beginning of each two-year budget cycle by the finance committee before it goes to council.

No formal roll-call vote on the policy changes was recorded during the committee meeting; committee members spoke to consensus and instructed staff to forward the package to council for consideration.","mediaType","Video","parentTitle","City of Upland - Special Finance Committee Meeting - Apr 30, 2025","oneSentenceSummary","The Upland Finance Committee on April 30 agreed to forward to city council a package of reserve-policy changes that would redirect certain year-end surplus allocations toward infrastructure while leaving the pension-stabilization reserve at its current 40% level.","taxTitle","Upland, San Bernardino County, California","taxId",4300,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6571576,"Upland reports $142 million in cash and investments; sales tax projection to fall $1.7 million",451,53960,505350,"/Search/View?dp=1&key=3163887-998b707a50132a5cb2eb079dddb1e952&start=53&end=505","https://assets.pipeline.soar.com/3163887-998b707a50132a5cb2eb079dddb1e952/thumbnail_53960.jpg","/articles/6571576/Upland/San-Bernardino-County/California/Upland-reports-142-million-in-cash-and-investments-sales-tax-projection-to-fall-17-million","https://secure.pipeline.soar.com/6571576-94a72ef23b526978cd2a68124127ee30/orig.mp4?Expires=1771201492&Signature=Tqs6-8UpHVQhkdXM3Dtl35LaZvcLb5ZIswMG4SaeB0hfawDlpcCzh0gndCQtN0c3e7orFK2REWOK73VI05FbCD6Lr1LHYhgJP~7uBb6B6Yo~NKDe6eZa1C5cIZPx-jDAQF2x1ueHtNnaXpM9Hbo-s4u~YXqnbByLQo1~PBwC-S7XU1GBpFAe3bR-1F1RKpX-S2Ca-3svat0yGaSLf-Q9YNt5T4rjxxEq4fAywuOHellmgWvwtO42j1XLRDwSm1nbGky36AHLs9boh7cz7K7lZLYRoC-eyqeQ0zQTOcBqi5SgSxbzPa6g4esKpw6TGt~8JxekZ4nbasBL0yKL3lgA3w__&Key-Pair-Id=KUT5TJCACFTXG","Assistant City Manager Steven Parker told the Upland Finance Committee on April 30 that the city's cash and investments increased from about $125,000,000 in September 2024 to about $142,000,000 in March 2025.

Parker said the city's blended investment yield has risen to 3.15% from 3.02% in September. \"We have dollars 125,000,000 in September of 24, up to 142,000,000 in March of 25,\" Parker said, adding that a seasonal rise in property-tax receipts in April typically produces another increase in the portfolio between April and June.

Why it matters: The portfolio growth and higher yields provide an additional line of revenue staff plans to use in balancing next year's budget after receiving a sales-tax projection cut. \"At Monday's city council meeting, we identified that our sales tax projection for next fiscal year is gonna go down rather significantly, dollars 1,700,000.0,\" Parker told the committee.

Parker described how the city has been allocating excess funds to pooled investment accounts and longer-term securities to lock in higher yields. He said the city currently holds excess funds in the California Asset Management Program (CAMP) and uses the Local Agency Investment Fund (LAIF) and other vehicles when yields and liquidity conditions change. He explained the difference in how some pools reset yields: \"Camp resets every 7 days and LAIF resets every 90,\" and that if interest rates fall the city may shift funds between those pools.

Parker and Finance Manager Stacy Sullivan also reviewed recent category changes in sales-tax receipts. Sullivan said autos and transportation are Upland's largest sales-tax category and building and construction the second-largest. She told the committee that building-construction receipts are the most volatile. \"If there is economic uncertainty, it will be felt in that category,\" Sullivan said.

Numbers and context taken from the presentation and committee discussion include:
- Cash and investments: about $125 million (Sept. 2024) to about $142 million (March 2025).
- Blended investment yield: 3.15% (current) vs. 3.02% (Sept. 2024).
- Projected decline in next fiscal year sales-tax revenue: $1,700,000 (as presented by staff).

The committee heard that the portfolio growth and higher yields will be one of several revenue adjustments staff will present at the May 19 budget workshop. Parker closed his presentation with a reminder: \"That's your sneak preview for the May 19 budget workshop.\"","Assistant City Manager Steven Parker told the finance committee that Upland's pooled investments grew from about $125 million in September 2024 to about $142 million in March 2025 and that staff expects a $1.7 million drop in next year's sales-tax projection, a consideration for the May 19 budget workshop.","actionData","errors"]

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Upland finance committee recommends repurposing some reserves to address road funding; keeps pension stabilization intact

Upland reports $142 million in cash and investments; sales tax projection to fall $1.7 million