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City finance official: TERS fund balance healthy but multiple projects will stretch capacity
Summary
Finance staff projected an end‑of‑FY26 TERS fund balance of about $24.2 million with roughly $21 million usable after restrictions, but warned that approving several large projects at once could quickly commit available capacity.
Mark Holloway of the city’s finance team told the board that TERS had a healthy fiscal position but cautioned about pacing and prioritization if multiple large projects move forward. Holloway said, “At the end of fiscal '26 ... I project the fund balance to be about $24,200,000,” and that after restricted county contributions the usable balance is roughly $21,000,000.
Holloway flagged ongoing annual obligations and debt-service needs, noting “We do have $1,000,000 of annual debt service,” and said that while the fund can support projects, the board should consider phasing to avoid rapidly depleting available capacity if several major initiatives proceed at once. He recommended pairing financial conversations with priority-setting as projects return to the board.
