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La Verne adopts fiscally balanced FY 2026–27 budget; reserves maintained at ~31%
Summary
Council adopted the FY 2026–27 operating budget, totaling about $101.6 million across all funds; the general fund is balanced without using reserves and projected reserves are about 31%, while personnel and CalPERS obligations remain the main long‑term fiscal pressure.
On June 15 the La Verne City Council adopted the fiscal year 2026–27 budget and accompanying appropriations resolution after a presentation by Finance Director Christy Lopez. The citywide budget shows approximately $97.8 million in resources and $101.6 million in appropriations across all funds; the General Fund is balanced at roughly $49 million without relying on reserves.
Lopez said the budget maintains staffing levels with 197 authorized full‑time positions, includes a capital improvement program of approximately $7.9 million (primarily water and sewer projects) and incorporates water and sewer rate adjustments previously approved. The budget reflects a 6% increase in personnel costs across the city and a roughly 37% increase in the annual CalPERS unfunded accrued liability payment (from about $1.7M to $2.3M).
Council members asked clarifying questions about reserve policy, the exclusion of solid‑waste pass‑through revenues (per the new MOU) and the treatment of water and sewer capital projects. Staff noted the projected reserve level at the end of FY 2026–27 is approximately 31.2% and the budget does not rely on general‑fund reserves to balance operations.
After brief public comment, council voted to adopt the budget and appropriations resolution 4‑0.
Provenance: Finance Director presentation and budget adoption ran from SEG 4589 through the council vote recorded at SEG 5129–5132.
