Sunnyvale 4B hears draft FY27 budget; staff projects $2.3 million ending fund balance

At a June budget workshop, Sunnyvale 4B board members heard a staff presentation of the draft FY27 budget that includes a $7,000,000 bond carryover for Jobson Park and conservative revenue assumptions to be finalized before the June 30 approval deadline.

"We do have some bond proceeds carryover of around $7,000,000, and that is the money for Jobson Park," said Mikaela, a staff presenter responsible for the economic development budget. Mikaela told the board she used a conservative 5% sales-tax growth projection even though year-to-date collections were running about 7.5% above the prior year.

Staff said the draft lowers interest-income projections to $100,000 because of current rates and cash on hand, and estimated a beginning fund balance of about $2,600,000, a 60-day policy reserve at $306,000, and an estimated ending fund balance near $2,302,000. "At the end of the, the beginning of the year, we'll have approximately 2,600,000 in beginning fund balance," Mikaela said.

Board members pressed staff for additional detail about the difference between a 5% and a 7% projection; Mikaela estimated that the gap could be roughly $100,000 in revenue and agreed to provide a precise dollar figure and year-to-date actuals at the next meeting. Staff emphasized that tonight's session was informational and that the board would vote to approve the full budget package at a future meeting, with the option to exclude specific items if desired.