Looking Ahead: What's the Five-Year Financial Forecast?
- General Fund Balance: $6.5 million
- 25% Reserve Set-Aside: $17.9 million
- Trust 115: $6.3 million
- Current Total General Fund Reserves: $30.7 million
What's the five-year financial forecast?
Looking Ahead: The Five-Year Financial Forecast
The City's financial challenges extend beyond the current fiscal year.
Based on the City's five-year forecast, continued annual operating deficits will require additional use of General Fund reserves if expenditures continue to exceed ongoing revenues.
Current General Fund Reserves
Projected Five-Year Position
Expenses are projected to exceed General Fund revenues each year through FY2030, resulting in a cumulative operating deficit of approximately $17.1 million over the five-year forecast period.
The annual projected deficits range from $1.5 million in FY2026 to $4.8 million in FY2028, with a $2.6 million deficit projected in FY2030. These ongoing gaps require the City to use reserves or identify other ongoing solutions to balance the General Fund.
The five-year forecast is a planning tool based on current assumptions about revenues and expenditures. Actual results may change based on economic conditions, future budgets and City Council decisions.