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City manager: FY25 will close balanced but reserves fall; public-safety pension costs to shape FY26
Summary
City staff told the council the adopted FY25 budget remains balanced but planned one‑time investments and pension funding dynamics leave a smaller beginning balance for FY26; staff flagged public‑safety pension contribution uncertainty and the Section 115 trust outperformance.
Mayor and council received an update on the city’s fiscal outlook and on development of the fiscal year 2026 budget, with officials saying the adopted FY25 operating budget remains balanced but the city will end FY25 with a smaller available fund balance than projected in June.
City Manager (presenting) told the council that the adopted FY25 budget assumed “about a half a million dollars of revenues in excess of expenditures of the recurring budget,” and cautioned that planned one‑time investments drawn from the accumulated fund balance are reducing the starting point for FY26.
Chief financial staff said the FY24 year‑end results were better than estimated and reported unrestricted general‑fund surplus and fund balance figures, but they emphasized that large one‑time commitments…
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