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Downey council adopts structurally balanced $335M budget for fiscal year 2026-27
Summary
The council approved a $335 million citywide budget for FY 2026-27, including a structurally balanced $122.07 million general fund with a projected $73,000 surplus; the plan keeps 470 full‑time positions, funds capital projects, and anticipates sales‑tax growth tied to a proposed Costco development.
DowneyCity Council unanimously adopted the fiscal year 2026–27 budget on June 23, approving total appropriations of approximately $335 million and a structurally balanced general fund plan.
Assistant finance director Marlon Ramirez presented the operating and capital proposals: total citywide appropriations of $335 million (a $10 million, or 3 percent, increase over the prior year), capital projects totaling about $99.4 million (30% of the budget), and a proposed general‑fund budget with $122.14 million in revenues and $122.07 million in expenditures, leaving an estimated $73,000 surplus. Ramirez said, "The proposed general fund budget remains unchanged" since the council workshop and described carryovers for capital work and grant funding for the Columbia Memorial Space Center.
The budget assumes a beginning fund balance of roughly $43.1 million and projects a June 30, 2027 general‑fund balance of about $41.9 million after planned uses (including ERP implementation and a YMCA payment). Staff highlighted reserve targets (35% combined stability and emergency reserves), current estimates of available reserves, and the projected effect of a potential master-development agreement with Costco and other partners that could lower reserves in the near term but is expected to be replenished over time by new sales tax revenue.
Council members asked questions about priority goals, a proposed All‑America City award process and expense, staffing additions and reclassifications, and AB 2561 reporting requirements for vacancy disclosure. No public speakers addressed the budget during the hearing.
After discussion, the council voted unanimously to adopt Resolution No. 26-8362 approving the fiscal year 2026–27 budget and the annual appropriations limit.
