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City manager previews FY 2025–26 budget, warns of pension and waterfront shortfalls
Summary
City Manager Mike Watsanski told the Public Amenities Commission that the city aims for a structurally balanced FY 2025–26 operating budget but will face multi‑million dollar pension payments and temporary harbor revenue shortfalls, and asked commissioners for early input on priorities.
City Manager Mike Watsanski told the Public Amenities Commission that he expects to deliver a proposed FY 2025–26 budget to the City Council in mid‑May and asked the commission for priorities to inform his office’s proposal.
Watsanski said the charter requires submission of the budget by May 16 and that the city is trying to present a structurally balanced operating budget for 2025–26 while absorbing several one‑time and ongoing pressures.
The nut graf: Watsanski highlighted two near‑term fiscal pressures — a sizable employer payment tied to the city’s pension system and continued operating shortfalls related to harbor uplands and tidelands — and urged commissioners to submit any budget items early so staff can consider them ahead of the council’s June deliberations.
At the meeting Watsanski summarized the city’s revenue and cost outlook and identified the biggest near‑term budget drivers. "The charter requires me to deliver that budget each year by May 16,"…
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