Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Santa Clara finance director previews proposed biennial budget, restores 25% stabilization reserve
Summary
City staff presented the second of three study sessions on the proposed fiscal year 2025–26 and 2026–27 biennial operating budgets and FY25–26 capital improvements changes; presentation highlighted targeted service investments, restoration of the budget stabilization reserve to 25% and a new fiscal sustainability study.
Ken Lee, Santa Clara’s finance director, told the City Council at a May 20 study session that the city is presenting the second of three budget study sessions ahead of a June 10 public hearing and adoption vote. Lee said the proposed two‑year budget includes targeted additions for police and fire services, development review, housing and homelessness efforts, sustainability and library materials, and start‑up funding to implement the city’s Measure I (geo bond) program and to staff stadium major events. He said the proposed FY25–26 total budget is about $1.55 billion before carrying forward capital projects, and the second year is about $1.4 billion; staff expects first‑year totals to rise when capital carryovers are added at adoption.
Lee emphasized restoring the city’s budget stabilization reserve to the policy level…
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
