Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Fountain Valley adopts two‑year budget, approves street and capital projects; uses reserves to fund CIP
Summary
City Council adopted the FY2025–27 biennial budget, setting revenue and expenditure plans and authorizing $21.8M in first-year capital projects, funded partly from reserves and Measure HH for pension/OPEB and infrastructure work.
On June 3 the Fountain Valley City Council adopted a two‑year operating budget and capital improvement program for FY2025–26 and FY2026–27. Finance Director Ryan Smith told council that the city projects total all‑funds revenues of about $152.8 million for FY26, with proposed all‑funds expenditures of roughly $173.5 million, and a planned use of reserves to complete multi‑year capital projects.
Key budget points: - General Fund revenues were projected at $83.8 million in FY26 and $84.9 million in FY27, with operating expenditures of $82.2 million and $84.0 million respectively. - The plan uses approximately $7.8 million of General Fund reserves in FY26 and $5.8 million in FY27 to pay for capital projects and one‑time needs, citing a multi‑year plan that built reserves in prior surpluses. - The CIP lists roughly $21.8 million of projects in year one (streets, roofing, water/sewer projects) and another $8.3 million in year two; special projects include arterial street rehabilitation and reservoir/well upgrades in the utilities funds.
Council discussed contingency options, the timing of deferred or unfunded projects, and additional pension/U AL payments included in the plan. Council adopted the budget and associated resolutions unanimously (5–0).
At the same meeting council also approved the SB1 arterial paving project list for FY25–26, awarded the residential roadway rehabilitation contract (Quadrant E7) to RJ Noble Company, and approved contract amendments for street sweeping and tree maintenance. Staff said many of the capital projects will be funded through a mix of General Fund CIP, special revenue funds, Measure HH and enterprise funds (water/sewer).
