Earlier this week, the City submitted its FY25-29 Five-Year Plan to PICA for approval. This fact sheet includes some highlights until PICA Staff's full analysis is ready, including:

  • The General Fund balance is expected to drop from $569M in FY25 to $66M in FY29, falling short of the City’s goal of 6-8% of revenues in four out of five Plan years.
  • Revenues are projected to grow by 4.5%, reaching almost $6.56B in FY29, while expenditures are expected to increase by 3.7% over the 5YP.
  • The City anticipates an operating deficit in all years of the Plan.
  • New contributions to Budget Stabilization Reserve are expected to total $176M over five years.
  • The City is committing over $10B to capital projects over six years, of which $1.4B will be new General Obligation (GO) borrowing.

Read PICA's fact sheet: FY25-29 Submitted Plan Fact Sheet