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El Segundo council adopts balanced 2025–26 budget, flags pension and long‑term gap
Summary
The El Segundo City Council on June 3 adopted the fiscal year 2025–26 operating and capital budgets and the GANN appropriations limit after staff presented a balanced budget that holds reserves at 25% while noting a looming structural deficit driven by pension costs.
The El Segundo City Council on June 3 adopted a resolution approving the citywide operating budget, capital improvement program and the GANN appropriations limit for fiscal year 2025–26.
City Chief Financial Officer Paul Chung told the council the proposed budget is balanced for 2025–26, with conservative revenue assumptions and a 25% general fund reserve. Council members voted 5–0 to adopt the resolution.
Why it matters: The budget keeps the city’s reserves high and maintains current service levels but includes a $2.9 million payment for unfunded pension liability that staff flagged as contributing to a structural deficit starting in fiscal 2027–28. City leaders and staff said they expect the city will need to revisit revenue or expenditure choices in the coming year to avoid drawing down fund balance.
Chung presented a condensed version of the May 5 budget study session and the staffing and program changes incorporated since then. The presentation notes included the addition…
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