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File #: 25-846    Version: 1
Type: Resolution Status: Passed
File created: 5/15/2025 In control: City Council
On agenda: 6/4/2025 Final action: 6/4/2025
Title: Staff recommends that the City Council, the Community Development Commission, and the Harbor District Board take the following actions to adopt the FY 2025-26 Operating and Capital Improvement Program Budgets; and authorize a lump-sum prepayment to CalPERS: 1. Adopt a resolution approving the Appropriation Limitation as required by Article XIII-B of the State Constitution, as modified by Proposition 111 for FY 2025-26. (Attachment A) 2. Adopt a resolution approving the FY 2025-26 City of Oceanside Operating Budget. (Attachment B) 3. Adopt a resolution approving the FY 2025-26 City of Oceanside Measure X Operating Budget. (Attachment C) 4. Adopt a resolution approving the FY 2025-26 City of Oceanside Capital Improvements Program Budget. (Attachment D) 5. Adopt a resolution approving the FY 2025-26 Community Development Commission (CDC) Operating Budget. (Attachment E) 6. Adopt a resolution approving the FY 2025-26 Small Craft Harbor District Operating Budget. (Attachment F) 7. A...
Attachments: 1. Staff Report, 2. Attachment A - Resolution - Appropriation Limitations as required by Article XIII-B of the State Constitution, 3. Attachment B - Resolution - Adopt Operating Budget-City Council, 4. Attachment C - Resolution - Measure X Resolution, 5. Attachment D - Resolution - Adopt City CIP Budget, 6. Attachment E - Resolution - Adopt Operating Budget-CDC, 7. Attachment F - Resolution - Adopt Operating Budget-Harbor, 8. Attachment G - Resolution - Adopt CIP Budget-Harbor, 9. Attachment H - CalPERS Safety and Misc Plan Actuarial Valuations, 10. Attachment K - April 30, 2025 Budget Workshop Materials, 11. Attachment L - May 8, 2025 Measure X Spending Plan and Update FY 2025-26 (YEAR 7), 12. Attachment M - 5-21-25 Memo - Budget Workshop Follow-Up, 13. Attachment J - General Fund Revenues and Expenditures Budget Worksheet, 14. Attachment I - Comparative Appropriations by Category
DATE: June 4, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Financial Services Department

TITLE: PUBLIC HEARING TO ADOPT THE FY 2025-26 OPERATING BUDGET AND THE FY 2025-26 CAPITAL IMPROVEMENT PROGRAM BUDGET; AND AUTHORIZE A LUMP SUM PREPAYMENT TO CALPERS

RECOMMENDATION
title
Staff recommends that the City Council, the Community Development Commission, and the Harbor District Board take the following actions to adopt the FY 2025-26 Operating and Capital Improvement Program Budgets; and authorize a lump-sum prepayment to CalPERS:
1. Adopt a resolution approving the Appropriation Limitation as required by Article XIII-B of the State Constitution, as modified by Proposition 111 for FY 2025-26. (Attachment A)
2. Adopt a resolution approving the FY 2025-26 City of Oceanside Operating Budget. (Attachment B)
3. Adopt a resolution approving the FY 2025-26 City of Oceanside Measure X Operating Budget. (Attachment C)
4. Adopt a resolution approving the FY 2025-26 City of Oceanside Capital Improvements Program Budget. (Attachment D)
5. Adopt a resolution approving the FY 2025-26 Community Development Commission (CDC) Operating Budget. (Attachment E)
6. Adopt a resolution approving the FY 2025-26 Small Craft Harbor District Operating Budget. (Attachment F)
7. Adopt a resolution approving the FY 2025-26 Small Craft Harbor District Capital Improvements Program Budget. (Attachment G)
8. Approve a lump-sum prepayment to CalPERS estimated at $24.74 million for the City's annual required Unfunded Liability contribution for both Safety and Miscellaneous Retirement Plans; prepayment will provide an estimated $827,165 in savings which will be directly applied to the City's CalPERS Unfunded Liability. (Attachment H)
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BACKGROUND AND ANALYSIS

Presented for consideration are the Fiscal Year 2025-26 budgets for the City of Oceanside, the CDC, and the Harbor District, inclusive of the Capital Improvement Program (CIP). The FY 2025-26 total appropriati...

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