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Capitola council reviews balanced draft budget, flags CalPERS costs and reserve gap
Summary
City staff presented a structurally balanced draft general fund budget that uses new local tax measures but projects reserve shortfalls and rising CalPERS pension costs, prompting requests for follow-up analysis and regular reporting.
Capitola City Council members on Thursday heard a presentation on the proposed fiscal year budget that staff said is structurally balanced for the next one to two years but faces significant medium‑term pressures from pension costs and reliance on sales and transient occupancy taxes.
Jamie, a staff presenter, told the council the draft budget anticipates about $1,600,000 in additional general fund revenues and incorporates revenues from Measure Y plus two smaller ballot measures. The presentation shows about $1,600,000 in increased general fund expenditures, with roughly $1,300,000 of that tied to personnel costs and the city’s unfunded…
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