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City manager presents FY 2025''6 budget and five-year CIP; council schedules hearings
Summary
City Manager Mike Wojcicki and Finance Director Stephanie Meyer presented the proposed fiscal year 2025''6 operating budget and five-year capital improvement plan; council received and filed the proposal and set hearings in June to review the details.
City Manager Mike Wojcicki and Finance Director Stephanie Meyer presented the proposed fiscal year 2025''6 operating budget and five-year capital improvement plan (CIP). Council received and filed the proposal and scheduled public hearings in June to review operations, capital projects and adopt the budget.
The budget presentation emphasized personnel costs, investments in technology and training, continued public-works capital needs, and fiscal caution in light of an annual CalPERS unfunded accrued liability (UAL) payment that staff estimates at about $4.3 million. Wojcicki described the UAL as a multi-year structural pressure that staff proposes to manage partly with a $3.5 million transfer from the city's pension reserve and with continued monitoring of actuarial assumptions; he noted…
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