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City staff: Hiring freeze, prepayments lift Bakersfield reserves to about $60 million
Summary
At the March 25, 2026 Bakersfield City Council meeting, city staff reported larger-than-expected savings from a hiring freeze and ongoing CalPERS prepayments, raising projected midyear savings to roughly $11–11.7 million and reporting $60 million in contingency reserves; the council voted to receive and file the report.
Mr. Clegg, a city staff presenter, told the Bakersfield City Council on March 25 that midyear budget work shows the city is on track to exceed earlier savings estimates and is entering the 2026–27 budget process with larger reserves. "We're fortunate, again," Mr. Clegg said, "our savings target is looking to be closer to $11,000,000 instead of just the $8,700,000 we estimated in the first quarter." The presentation was delivered after a closed session and the council reconvened at 4:07 p.m.
Why it matters: the report frames how staff plans to balance next year’s budget. Mr. Clegg said the city’s contingency reserve stands at $60,000,000 against a $65,000,000 target, and staff is not recommending tapping those reserves to balance the coming year. He distinguished contingency reserves from the fund balance and noted facility…
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