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City Council adopts 2025–27 financial plan and FY 2025–26 budget after multi‑month process
Summary
After months of public engagement and a constrained budgeting exercise, the council adopted the two‑year 2025–27 financial plan and the FY 2025–26 budget. The plan funds major city goals, a 10‑year fiscally constrained CIP, and establishes further budget review steps to address a structural deficit in later years.
The San Luis Obispo City Council adopted the 2025–27 Financial Plan and the fiscal year 2025–26 budget in a 5–0 vote on June 17 after a multi‑month public process that included goal setting, workshops and strategic budget direction.
City Manager McDonald and staff said the plan is designed for a transitionary fiscal period marked by flattening revenues (notably sales tax and fees) and ongoing cost pressures. The two‑year plan balances the FY 2025–26 budget while identifying a longer‑term structural deficit that will require additional reductions or other actions in later years. To manage the immediate shortfall, the plan recommends constrained operating budgets, a modest increase in staffing savings assumptions and a one‑time shift of roughly $1 million per year from local revenue measure funds…
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