Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Gilroy staff present balanced two‑year budget but flag pension, workers' comp and ERAF risks
Summary
City staff presented a recommended FY 2026–27 budget that keeps a 30% general‑fund reserve but relies on ongoing excess ERAF, a Section 115 pension trust and conservative sales‑tax forecasts; workers’ compensation claims and CalPERS liabilities remain key downside risks.
City Administrator Jimmy Forbus presented the Gilroy City Council with a recommended two‑year budget for fiscal years 2026–27 on May 12, outlining a plan that maintains the council’s 30% general‑fund reserve while using targeted fund balances and trust assets to balance operations.
Forbus said the recommended budget reflects council priorities including economic development and increased investment in parks and recreation, while limiting new ongoing staffing because a previously modeled $1.5 million deficit had to be closed. “The budget is in a recommended status. We have plenty of opportunities to discuss and to deliberate and to make adjustments as necessary,” Forbus said.
Finance Director Harjot Sengham detailed the citywide financial picture. The recommended budget shows roughly $178.6 million in revenues for FY26 and uses about $28.6 million of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
