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Council hears $1.67M deficit in preliminary FY 2026–27 budget and removes a $250K discretionary pension payment
Summary
Staff presented a preliminary general‑fund budget projecting a $1,670,000 deficit and relying on roughly $5.1 million in Measure E proceeds; after extended discussion council voted 3–2 to remove a proposed $250,000 discretionary CalPERS payment and asked staff to prioritize risk management items such as tree work, fire weed abatement, and IT needs.
Palos Verdes Estates — Council members and staff devoted the longest portion of the April 14 meeting to a line‑by‑line look at the preliminary FY 2026–27 general fund operating budget and a list of needs staff left out of the baseline.
Staff presented a preliminary deficit of about $1,670,000 for FY 2026–27 and said roughly 75% of the city’s general fund revenue comes from property taxes and measure transfers. Finance staff said the budget assumes $5.1 million in Measure E special‑tax revenue in 2026–27 and walked council through the timing for placing any replacement levy on the county roll in August.
Noah (finance staff) summarized the forecast: the city’s adjusted revenues and expenses…
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