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Capitola adopts FY 2025–26 budget and CIP; council places hold on $150,000 in seed spending pending grant agreement
Summary
Capitola’s City Council on June 26 adopted the FY2025–26 operating budget and capital improvement program and instructed staff to withhold $150,000 in council‑directed spending until a related grant agreement is signed.
The Capitola City Council adopted the fiscal year 2025–26 operating budget and capital improvement program on June 26, approving staff’s recommended resolution while adding a council instruction to withhold $150,000 in previously authorized seed funding until the city has a signed grant agreement tied to a park project.
Finance Director Jim presented the budget and told the council the general fund for the coming year and the next two is structurally balanced using Measure Y revenues, while cautioning that longer‑term structural pressures — principally CalPERS unfunded actuarial liabilities — could challenge balance beyond the next three years. He said the city is maintaining an estimated ending…
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