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City manager previews Redondo Beach FY 2025–26 budget, flags PERS payment and public-safety costs
Summary
City Manager Mike Wazanski told the Public Safety Commission on Feb. 27 the cityexpects continued revenue growth but must budget a roughly $4 million PERS payment and build ongoing costs for public-safety programs into the FY25-26 proposal.
City Manager Mike Wazanski told the Redondo Beach Public Safety Commission on Feb. 27 that the city will present its proposed fiscal year 2025-26 operating budget to the City Council in mid-May and that "revenues are strong," driven largely by property tax and a recovering transient-occupancy tax.
The preview focused on revenue growth, near-term expenditure pressures and a handful of one-time public-safety expenses. Wazanski said the city has increased its property-tax forecast "by a little over $2,000,000" based on early assessed-valuation data and expects roughly 5% assessed-valuation growth next year. He also told commissioners the budget will need to accommodate a roughly $4,000,000 unfunded-accrued-liability (PERS) payment coming in the next fiscal year.
Wazanski said the city expects additional transient-occupancy tax (TOT) revenue next year tied to new hotels coming online, including a fully operational Marine Avenue Hotel site and a hotel at the old Legado site, which the city estimates…
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