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Committee forwards long‑term financial plan projecting balanced general fund but flags sheriff contract and hotel timing
Summary
Staff presented the city’s five‑year long‑term financial plan projecting a structurally balanced general fund through FY32 while noting the Orange County Sheriff contract and the timing of upcoming hotel openings are the largest expenditure and revenue risks; committee voted 5‑0 to forward the plan to council.
The Financial Review Committee voted April 28 to forward the city’s annual long‑term financial plan (LTFP) to City Council after staff said the five‑year forecast (FY27–FY32) expects revenues to slightly outperform expenditures under current assumptions.
Staff told the committee the LTFP is prepared per Council Policy 02/29 and is updated annually. The plan assumes two new hotels in the harbor by FY30 and incorporates expected increases in the city’s contract with the Orange County Sheriff’s Department. "Our…
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