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Ross council hears five‑year budget forecast, directs pension review and keeps conservative property‑tax assumptions
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Summary
Town staff told the council that Ross’s operating fund is balanced in the near term but long‑term capital needs will draw reserves; staff included $200,000/year for pension paydown and recommended conservative property‑tax growth assumptions. Council asked staff to bring a pension consultant and to restore a previously proposed license‑plate‑reader line item.
Town Manager Krista Ford presented the draft fiscal‑year 2027 budget and a five‑year financial forecast to the Ross Town Council at a special workshop on April 23, saying the town’s operating fund is balanced in the short term but that transfers to the capital projects fund will need careful management.
"The forecast indicates that, for revenues, property taxes will continue to be your largest source of revenue," Ford said, adding that staff used projections from the County of Marin and consulting firm HDL. The draft includes a $200,000 annual discretionary payment to reduce the town’s unfunded CalPERS liability.
Staff told the council the budget assumes property‑tax growth of about 3.8% per year but noted recent actuals have exceeded that rate. Council members pushed back that recent years have seen 5–6% growth, while Ford urged caution and said the town relies on county and consultant projections when setting assumptions.
Elena Kurakina, the town’s senior accountant, explained differences between the staff report and presentation charts and confirmed the budgeted baseline property‑tax figure of $5,650,000 with an estimated in‑year receipt of $5,671,000.
Ford said the town has healthy reserves and is proposing a $2.5 million transfer from the operating fund into the capital projects fund, which would leave about $3.9 million in operating reserves—roughly the council’s 30% reserve policy. She also noted that pension costs for the town are volatile: the most recent CalPERS valuation showed an unfunded accrued liability of $5.7 million, a $400,000 reduction from the prior report.
Several council members requested further analysis of pension‑paydown options and whether additional contributions or alternative vehicles (such as a PARS account) could lower long‑term costs. Ford said staff will place the topic on the finance‑committee agenda and has budgeted modest funds for a pension consultant to provide options.
The council also discussed license‑plate readers; Ford said the devices were budgeted in a prior year but not included in the FY27 draft because staff has not been able to reach agreement with vendors on contract provisions. Several members asked staff to carry that funding forward so the hardware could be implemented once legal and contract issues are resolved.
Ford said the draft budget will return for formal adoption at the June 11 meeting, and staff will prepare updated budget materials and a short summary of the year’s accomplishments for distribution to residents.
