Pleasanton Budget Barely In The Black, But Long-Term Gaps Loom

PLEASANTON, CA — On Tuesday, the Pleasanton City Council will receive the FY 2025/26 Mid-Year Budget Update, and consider a resolution adopting budget amendments. The report updates projections for the current fiscal year and makes nine-year forecasts.

According to the report, the city's General Fund will end the year balanced, without using $1 million from the Section 115 pension trust that was included in the adopted budget, according to a staff report. This is due largely to lower than expected personnel costs and a recommended $500,000 transfer from the Capital Reserve Fund.

Still, revenues from property and sales tax are expected to dip. Property tax is expected to come in at around $1.22 million lower than projected, while sales tax is expected to moderately decline. At the same time, business license tax is up by roughly $550,000.

Staff continue to project an ongoing gap of roughly $6-10 million during the forecast period, even under the most likely scenario laid out.

See here for the full report, and here for Tuesday's full agenda.