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Finance staff outlines FY25–26 budget assumptions; consultants HDL and Avenue Insights cited
Summary
City finance staff presented assumptions for the FY25–26 budget building process, including use of consultant HDL for property and sales tax analysis and new consultant Avenue Insights for other taxes. Staff discussed CPI indexing for expense assumptions and noted a public safety half‑percent sales tax earmark.
Beaumont finance staff presented the assumptions that will guide preparation of the fiscal year 2025–26 budget, noting the use of external consultants for tax monitoring and a new approach to indexing expense projections.
Finance staff said HDL (the city's long‑standing tax consultant) will continue to provide property and sales tax monitoring and quarterly reporting, along with spreadsheets and projections for use in budget building. Staff described Avenue Insights as a recently retained consultant to audit and project other tax categories not previously covered by a consultant. Finance staff said both firms’ outputs will be reviewed internally for reasonableness before being applied in the budget.
On expenditures, staff said the city is adopting an index‑based approach this fiscal year to set more precise CPI adjustments by expense type rather than applying a single, across‑the‑board multiplier. Staff also reminded the committee that a public‑safety sales tax measure provides a one‑half‑percent earmark for public safety and that the city's Bradley‑Burns sales tax remains the larger component of sales tax revenue. Committee members asked about the Riverside area CPI source and were told the state posts county‑level indices.
Staff asked committee members for feedback on the assumptions; the item was presented for discussion only and no formal action was taken on the assumptions themselves.
