Measure O oversight committee refers FY26 third-quarter update to Walnut Creek City Council

Kirsten Lacasse, Walnut Creek’s administrative services director, told the Measure O Citizens Oversight Committee on April 30 that Measure O revenues and use of reserves are projected at $23,160,000 for fiscal year 2026, about $440,000 more than budget, with projected expenditures of $20,880,000 and an estimated year-end contribution to fund balance of roughly $2.27 million.

Lacasse said the transaction-and-use tax that funds Measure O is projected to exceed the budgeted amount for FY26 in part because of stronger local growth in general consumer goods, restaurants and hotels, and building and construction. She reported the city has set aside an annual $9,000,000 reserve for the Heather Farm Aquatic and Community Center project; that reserve reached $16,000,000 as of June 30, 2025, and $9,880,000 was appropriated in November 2025 for phase 2 construction, leaving $6,120,000 in that reserve.

The presentation noted the city issued $55,000,000 in lease revenue bonds in December 2025 to fund Heather Farm; the bonds carry an approximate…