HomeMy WebLinkAboutR-11585 adopting the 2025-27 Financial Plan and Fiscal Year 2025-26 BudgetR 11585
RESOLUTION NO. 11585 (2025 SERIES)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, ADOPTING THE 2025-27 FINANCIAL PLAN
AND FISCAL YEAR 2025-26 BUDGET
WHEREAS, in accordance with San Luis Obispo Charter Section 802, the City
Manager has submitted the 2025-27 Financial Plan to the Council for review and
consideration consistent with established budget and fiscal policies; and
WHEREAS, the preparation of the 2025-27 Financial Plan was based on extensive
public outreach, comment, and input and the City Council’s strategic vision as discussed
at a public hearing for strategic budget direction on April 15, 2025; and
WHEREAS, the Planning Commission reviewed the Capital Improvement Plan on
May 28, 2025 and confirmed the plan’s conformity with the City’s General Plan; and
WHEREAS, pursuant to Section 804 of the City Charter, the City Council must
adopt the 2025-26 Budget by June 30, 2025 for the appropriations to be in place when
the 2025-26 fiscal year begins on July 1, 2025; and
WHEREAS, pursuant to Section 803 of the City Charter, the City Council shall hold
a public hearing on the proposed budget and this hearing was held during the June 17,
2025 City Council meeting; and
WHEREAS, California voters approved the Gann Spending-Limitation Initiative on
November 6, 1979 and Proposition 111 on June 5, 1990, which establish and define
annual appropriation limits on state and local government agencies; and
WHEREAS, the California Government Code requires that the governing body of
each local agency establish its appropriations limit and annual factors by resolution.
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The 2025-27 Financial Plan and Fiscal Year 2025-26 budget is
hereby approved and that the budget for the fiscal year beginning July 1, 202 5 and ending
June 30, 2026 is hereby appropriated as presented in the 2025-27 Financial Plan.
SECTION 2. The City Manager is hereby delegated authority to approve budget
adjustments, including non-substantive format and typographical changes found within
the 2025-27 Financial Plan, consistent with the adopted budget policies to maintain
budgetary flexibility and balances for the organization.
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Resolution No. 11585 (2025 Series) Page 2
R 11585
SECTION 3. The City’s appropriation limit and annual adjustment factors for
Fiscal Year 2025-26 are adopted as follows:
Upon motion of Vice Mayor Shoresman, seconded by Council Member Francis,
and on the following roll call vote:
AYES: Council Member Boswell, Francis, Marx, Vice Mayor Shoresman,
and Mayor Stewart
NOES: None
ABSENT: None
The foregoing resolution was adopted this 17th day of June 2025.
______________________________
Mayor Erica A. Stewart
ATTEST:
Teresa Purrington,
City Clerk
APPROVED:
J. Christine Dietrick,
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Luis Obispo, California, on ______________________.
________________________________
Teresa Purrington,
City Clerk
Appropriations Limit 2024-25 $94,976,973
Cost of Living Increase 1.02%
Population Factor: City Population Growth 1.06%
Compounded Percentage Factor (multiplicative not additive) 1.08%
Appropriations Limit 2025-26 $102,632,964
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6/25/2025 | 5:03 PM PDT