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Monterey Park unveils $188.2 million preliminary budget with small operational surplus
Summary
Finance Director Martha Garcia presented a $188.2 million preliminary FY2026–27 budget, including $77.8 million in general fund expenditures and a projected operational surplus of about $2.26 million, while warning of medium‑term reserve pressure and large capital funding gaps.
Monterey Park’s finance director laid out the city’s preliminary fiscal year 2026–27 budget during a council workshop, describing total operating, capital and successor agency appropriations of $188,200,000 and general fund expenditures of $77,800,000. "The city's proposed budget for fiscal year 26 27 operating debt, capital, and successor agency budget total is 188,200,000," Finance Director Martha Garcia said during the presentation.
Garcia walked the council through revenue and expenditure assumptions, noting that property and sales taxes generate roughly 61% of general fund revenue. She said the city is projecting a roughly $2.26 million operational surplus this year but cautioned that revenue growth (about 2.6% average) trails expenditure growth (about 2.7% average), leaving limited room for additional commitments. "I'm concerned that, as we can hold what we have now, any other additions or any other stuff we need to seriously think about before we add anything else in the future," Garcia said. Staff said the council will revisit finances at midyear and that many capital needs remain underfunded, which council members raised as a point of caution.
