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Rancho Mirage Adopts 2025–26 Budget; Earmarks Reserves to Help Fund IID Substation for Affordable Housing
Summary
On June 5 the Rancho Mirage City Council approved the fiscal year 2025–26 operating and capital budget, tentatively approved FY 2026–27, and confirmed planned use of reserves to help pay the city’s share of an IID electrical substation that city officials say is needed to enable northern-city affordable housing projects.
The Rancho Mirage City Council on June 5 adopted the city’s fiscal year 2025–26 operating and capital budget and gave tentative approval to the fiscal year 2026–27 plan, voting 5–0 to adopt the resolutions presented by staff.
City finance staff told council the FY 2025–26 operating budget assumes roughly $37,000,000 in operating revenue and $35,900,000 in operating expenditures, producing an operating surplus of about $1,100,000, while the capital (non‑operating) program will use reserves for roughly $3,900,000 in spending, leaving a projected reserve drawdown of about $2,700,000 for 2025–26.
The budget presentation by Joseph Carpenter, assistant and administrative services director, said the city expects to end FY 2024–25 with about $67,300,000 in reserves and projects an estimated…
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