Pleasanton City Council To Review Mid-Year Budget

PLEASANTON, CA — The Pleasanton City Council will meet Tuesday to review the city's Fiscal Year 2024/25 Mid-Year Budget Update and propose budget amendments.

Despite projected budget challenges, the city maintains a surplus, according to a staff report. After mid-year adjustments, the city's total General Fund revenues total $132.5 million, while General Fund expenditures total $109.7 million, resulting in a net operating surplus of $22.6 million.

However, much of the surplus is being transferred to other funds and capital improvement projects, resulting in just $6,832 that is unallocated. The city is proposing various amendments to increase General Fund revenues by $2.64 million, mainly due to higher property tax revenue and reclassified lease income, while expenditures would increase to $546,270 due to water costs and compliance with new standards.

The council will consider amendments in special revenue and capital funds, including a $75,000 investment in solar streetlights, and adjustments to accommodate new state-mandated financial reporting requirements.

General Fund reserves are expected to total $53.6 million by year-end, according to the report.

See page 294 of this report for more information. See here for the full meeting agenda.

The meeting will take place Tuesday at 7 p.m. in the City Council Chamber. It will also be broadcast live on Channel 29 and at trivalleytv.org and the city's YouTube channel.