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City manager presents FY2025‑26 budget showing $1.3 million operating gap; council to workshop cuts
Summary
City manager Dr. Caldera presented a preliminary FY2025‑26 budget with a $1.3 million operating deficit, lower property valuations driven by multifamily decreases, rising personnel costs, and a risk from lower red‑light camera revenue; staff scheduled follow‑up workshops and hearings.
City Manager Dr. Mary Caldera presented the city’s preliminary fiscal‑year 2025‑26 budget on June 3, showing an estimated $1.3 million operating deficit and asking the council to guide cuts and priorities before final adoption.
Caldera said the city’s combined capital reserve is about $4.1 million and the emergency fund about $1.2 million, for roughly $5.4 million in reserves — or 4.1 months of operating income. "Your operating deficit is sitting at 1.3 mil," Caldera told the council, adding that the preliminary operating revenues are roughly $14 million and that numbers remain subject to final county valuation data.
Caldera highlighted a $46 million drop in total…
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