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Downey releases structurally balanced $327 million FY 2026–27 proposed budget
Summary
City Manager Bradley and finance staff presented a structurally balanced FY 2026–27 proposed budget totaling about $327 million in all funds, with a $122.1 million general fund and a projected $73,000 surplus; staff emphasized conservative revenue assumptions and a 35% general fund reserve target.
City Manager Bradley presented the proposed fiscal year 2026–27 operating budget to the Downey City Council on the special‑meeting agenda, describing it as structurally balanced and the result of a multi‑month review process.
The proposed budget totals about $327 million across all funds, with the general fund representing roughly $122.1 million (about 37 percent of total appropriations). Assistant interim finance director Marlon Ramirez told the council that staff project a modest $73,000 surplus for next year and an ending general fund balance near $41.9 million, while reiterating the city’s 35 percent reserve policy (a stability reserve plus emergency reserve that yields an approximate $37.5 million rolling requirement).
Ramirez summarized the major revenue drivers: property tax (projected near $40.5 million) and sales and use tax (about $29.5 million). He said staff used a cautious approach to forecasting, citing inflation, interest‑rate pressures and mixed sector performance in taxable sales. “We are budgeting conservatively to ensure that we do not overestimate revenues in an uncertain environment,” Ramirez said.
Bradley framed the budget priorities around the council’s strategic plan objectives — fiscal responsibility, economic vibrancy, efficiency and quality of life — and noted large capital commitments including the Columbia Memorial Space Center expansion, for which staff said roughly $20 million in additional fundraising remains for later phases.
Departmental presentations that followed the staff overview emphasized a few recurring themes: continued investment in public safety, maintenance of staffing levels (the overall FTE count was proposed to remain flat at about 470), progress on capital projects and investments in technology, including an enterprise resource planning implementation aimed at modernizing finance and HR systems.
The council discussed a handful of specific next steps and followups to be included with the final budget adoption. The proposed budget will return for final consideration on June 23, when councilmembers may adjust priorities or add limited proposals during deliberations.
