City Council to Receive a Mid-Term Budget Update

The City Council will receive an update of its biennial budget at tonight's meeting.

The update includes a readjustment in revenues of $5.7 million less to the general fund. The city's staff report states that reduction in expenditures (amounting to almost $3 million) and using carryover reserve funds will help offset the reductions.

"Basically we refresh the assumptions to address actual revenues versus actual expenditures," said City Manager Nelson Fialho.

The budget update presentation will be led by current Finance Director Dave Culver, who is leaving to take a similar position in the City of San Mateo.

Culver has been with the City of Pleasanton for about 4 years and managed the city's  operating budget of about $85 million and capital budget of about $20 million.

Fialho said the process of finding another finance director will take four to five months. He said other city staff members "are capable of holding down the fort" during the search for Culver's replacement.

"We've managed our finances really well, compared to other cities, it's an opportunity for someone really capable … to come here and be a part of a very good situation," said Fialho.