The Pleasanton City Council unanimously adopted its two-year operating budget for fiscal years (FY) 2019/20 and 2020/2021, and its four-year Capital Improvement Program (CIP) for fiscal years 2019/20 through 2022/23. The action took place at the June 18 meeting.
“The new budget is balanced and focused on areas of importance to the City Council as identified in the 2019-2020 City Council Work Plan,” said Nelson Fialho, city manager. “It also maintains existing service levels and addresses new programs and projects to meet Council, community and staff goals.”
The City’s two-year operating budget is based on estimates of current financial conditions for the upcoming two-year budget cycle. Total expenditures are budgeted at $189.7 million for FY 2019/20 and $194.3 million for FY 2020/21. Total revenues are budgeted at $200 million for FY 2019/20 and $205.8 million for FY 2020/21.
Director of Finance Tina Olson reported that property and sales tax comprise 74% of the General Fund. While property tax revenue is projected to continue to increase, sales tax revenues are flattening.
The CIP four-year budget funds identified projects for the first two years, while planning for projects for the latter two years. Over the four-year budget time frame, expenditures total $100.6 million for 80 projects; $53.8 million is funded for FY 2019/20 and FY 2020/21. Projects include $4 million to design and construct Fire Station #3; $1 million to expand parking on the Downtown transportation corridor; $0.5 million for the remaining phases of the Old Vineyard Avenue trail; $1.2 million to implement the Pioneer Cemetery Master Plan; and $13.6 million for improvements to the Sunol Boulevard interchange.