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Town of Woodside accepts FY 2025-26 first quarterly budget review
Summary
The council unanimously accepted the FY 2025-26 first quarterly budget review. Staff reported a general fund cash balance of about $6.2 million, an all-funds cash position of $13.9 million and projected operating revenues at 52%, above the council policy minimum of 30% for operating reserves.
The Town of Woodside council voted to accept the FY 2025-26 first quarterly budget review at its Oct. 28 meeting.
Cindy, the staff member who presented the report, told the council the town’s general fund cash on hand as of Sept. 30 was about $6,200,000 and that projected operating revenues stood at 52% — above the council’s 30% reserve policy. She explained that the largest town revenue source is property taxes, which arrive later in the fiscal year, and that licenses and permits were the largest receipts for the first quarter because they are collected daily.
Cindy also explained timing differences that affect year-over-year comparisons: the sheriff’s bill and a lump-sum CalPERS payment can shift where expenses appear in a given quarter. "We do have [the sheriff's bill] now, and it's being paid this Friday," she said, noting that such timing can make first-quarter expenditure figures look lower or higher depending on when large invoices are posted. She also said the town holds two PARS investments (a pension and an OPEB account) that affect cash-position calculations.
A council member moved to accept the report and the motion passed by roll call vote (Council member Brown — yes; Council member Will — yes; Vice Mayor Paul Gold — yes). No amendments or budget changes were adopted at the meeting. Council discussion flagged a longer-term interest in contracting for financial planning and alternative revenue studies to help the town evaluate capital projects and CIP priorities.
