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Folsom staff present FY 2025'26 budget with $3.5 million shortfall; council continues public hearing
Summary
Finance staff proposed a FY 2025-26 operating and capital budget showing approximately $120 million in revenues and $123.5 million in appropriations, producing a $3.5 million shortfall that would draw reserves below council policy; council agreed to continue the public hearing to allow more public review.
Folsom city staff on Tuesday presented the proposed fiscal year 2025-26 operating and capital budget and outlined a $3.5 million operating gap that would reduce the city's unassigned fund balance below the council's 17%-20% policy range if the gap is used. Council opened a public hearing on the budget but continued the item to allow public review and additional staff follow-up.
Stacy Timani, the city's chief financial officer, said the proposed budget projects total general fund revenues of about $120 million and proposed appropriations totaling about $123.5 million. "Total expenses at the $123.5 million that just had to be added into the budget right off the top," Timani said, noting roughly $5.5 million in personnel and…
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