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City of Corona adopts FY2027 budget with modest general‑fund surplus; utilities and Measure X projects highlighted
Summary
Council adopted a $498.7 million citywide FY2027 proposed budget with general fund revenues of $243.8 million and projected expenditures of $243.5 million (a roughly $242,000 surplus). Key allocations include Measure X spending and multi‑million CIP projects for water and sewer facilities.
The City Council unanimously adopted the proposed fiscal year 2027 operating and capital budget on June 3 after a staff presentation from finance director Bruce Folultz.
Folultz said the citywide revenue projection is about $498.7 million, with the general fund projected at $243.8 million in revenues and $243.5 million in expenditures — leaving a projected general‑fund surplus of roughly $242,000 for the year. Sales and property taxes together account for about 70% of general‑fund revenues (sales tax ~41%, property tax ~29%).
Key utility and capital projects included water‑line replacement, upgrades to treatment facilities and continued Measure X spending. Folultz highlighted proposed water utility CIP items such as $8.4 million for water‑line replacement and $16.6 million for treatment‑plant upgrades; the sewer fund and electric utility fund also carry multi‑million CIP lines.
Council members thanked staff for the analysis and adopted the budget as presented; Folultz said the new fiscal year begins July 1.
The adoption sets the spending framework for departments and authorizes staff to proceed with the projects and procurements listed in the approved FY2027 operating and capital program.
