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Folsom council adopts FY 2025–26 budget using reserves; council signals more cuts and reviews ahead
Summary
By unanimous vote the council adopted Resolution No. 11,401 approving the FY 2025–26 operating and capital budgets, using general fund reserves to cover a projected shortfall and directing staff to produce additional cost-cutting proposals and to return for midyear reviews.
The Folsom City Council on June 24 adopted the city’s Fiscal Year (FY) 2025–26 operating and capital budgets by approving Resolution No. 11,401. Staff described a structural shortfall that will require use of general fund reserves in the coming year while the city develops further cost-reduction measures for subsequent budgets.
Stacy Timani, the city’s chief financial officer, presented a condensed budget summary. Staff projected roughly $120 million in general fund revenue for FY25–26, an overall revenue increase of about $4.7 million from last year driven primarily by property tax growth related to development in the Folsom plan area. However, projected increases in salary, benefits and insurance (about $5.5…
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