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La Verne council adopts FY 2025–26 budget as leaders warn of mounting pension costs
Summary
The La Verne City Council approved a proposed FY 2025–26 operating budget that relies on one‑time resources and fund re‑allocations to close a remaining shortfall, while staff and council members warned the city faces rising CalPERS pension liabilities that will add roughly $1.75 million next year if markets don’t improve.
La Verne’s City Council approved the FY 2025–26 operating budget Monday after a lengthy presentation from Finance Director Christie Lopez and extensive council discussion about long‑term fiscal risks.
Lopez said the proposed general fund budget lists revenues and expenditures at $49.9 million and relies on targeted reductions, fund realignments and one‑time interest surplus to balance a remaining gap. "This proposed budget is operationally balanced," Lopez said, adding that staff had closed the original projected shortfall through one‑time measures and reallocations.
The presentation laid out citywide figures as well: roughly $96.2 million in revenues across all funds and $99.2 million in…
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