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Pleasant Hill staff warn preliminary budget projects deficits and reserves below policy in coming years
Summary
Staff told the Budget Committee the preliminary biennial general-fund budget shows a near-term deficit (~$1.9M) and projects the general-fund balance could fall below the $10M reserve policy to about $9.8M and down to $4.8M in later years unless further actions are taken; rising CalPERS UAL and insurance costs are primary drivers.
City staff told the Pleasant Hill Budget Committee on April 4 that preliminary estimates for the general-fund biennial budget show the city facing a multi-year funding gap driven primarily by rising CalPERS unfunded actuarial liability (UAL) and higher insurance costs.
Staff presented near-term revenue estimates of roughly $32'$33 million and noted a projected deficit in the neighborhood of $1.9 million for the current biennial period. "That deficit is about…
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