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El Segundo council adopts $104 million budget with 25% reserve
Summary
The El Segundo City Council adopted the fiscal year 2025–26 operating and capital budgets, keeping a 25% general fund reserve and an economic uncertainty reserve; the budget takes effect July 1, 2025.
Chief Financial Officer Paul Chung held a public hearing and the El Segundo City Council adopted the proposed fiscal year 2025–26 operating budget and capital improvement program on June 3, 2025. The resolution also approved the city's Gann appropriations limit and associated financial policies; the budget will take effect July 1, 2025.
City staff presented the budget as balanced with $104,000,000 in projected general fund revenues and equivalent expenses. The city retains a 25% general fund reserve, listed in the presentation as $24,900,000, and an economic uncertainty reserve of $2,000,000. The council adopted a resolution approving the budget at the close of the public hearing.
The public hearing and the council vote were presented by the chief financial officer; the record notes related staff presentations about public safety equipment purchases during the same item. No vote tallies or motion maker names were stated in the meeting record provided.
The adopted budget and the city’s stated reserve levels frame the city’s financial policies for the coming fiscal year and set spending authority that begins July 1, 2025.
