City ends 2015/16 fiscal year with $4.4 million surplus

Year-end budget report reflects healthy economy for Pleasanton, City Manager says

The Pleasanton City Council adopted a resolution Tuesday night to accept its 2015/16 fiscal year operating budget that shows a $4.4 million surplus.

Tina Olson, city finance director, said General Fund revenues received during the fiscal year were greater than expected by close to $2 million.

Additionally, expenditures were $2.3 million less than anticipated during the fiscal year. Together, these resulted in a $4.4 million surplus.

“We’re pleased to report that the year-end budget report reflects a healthy economy and the sound financial planning practices that make Pleasanton such a successful community,” said City Manager Nelson Fialho.

Of the $4.4 million surplus, city staff recommended the following allocations:

• Repair and Replacement Fund reserves: $500,000.

• Capital Improvement Project (CIP) reserves: $1.5 million.

• General Fund reserves: $868,475.

• Reduce outstanding pension liability: $1.5 million.

“Our General Fund revenues increased by more than $7 million over the prior year, and we also set aside a 20% reserve,” Fialho said. “With a target rainy day fund of 25%, I’d say we are well on track to meeting our goals.”

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2 people like this
Posted by PtownZ
a resident of Mission Park
on Dec 7, 2016 at 6:59 pm

Maybe the PFLl can lower heir costs to play baseball. $425 for a 6 year old little league is ridiculous .. nice work though PTown!

7 people like this
Posted by Michael Austin
a resident of Pleasanton Meadows
on Dec 7, 2016 at 7:41 pm

Michael Austin is a registered user.

Pleasanton pension debt can stand a $4.4 million pay down.

16 people like this
Posted by res1
a resident of Vintage Hills
on Dec 7, 2016 at 7:59 pm

Claiming a surplus when you have a pension and retiree medical debt is like charging up all your visa cards, making the minimum payment, and saying you have tons of disposable income.

1 person likes this
Posted by Common Sense
a resident of Del Prado
on Dec 8, 2016 at 10:26 pm

Time for a refund for all the parcel tax payers!

3 people like this
Posted by Jack
a resident of Downtown
on Dec 10, 2016 at 6:47 am

That's great news! 50 more years like this and we'll be able to afford the proposed City Hall and Civic Center...

2 people like this
Posted by BobB
a resident of Another Pleasanton neighborhood
on Dec 10, 2016 at 3:36 pm

BobB is a registered user.

@Common sense,

What parcel tax? I think our school district would benefit from a parcel tax. We have bonds, but no parcel tax.

1 person likes this
Posted by res1
a resident of Vineyard Hills
on Dec 10, 2016 at 7:33 pm

I think Common Sense meant Property Tax.

I also just read the Planning Commission packet for this upcoming week and it indicates that Pleasanton has made a bid on the parcel of land between the library and the train track for $4.2M which has been accepted but going through Planning Commission. I don't see any need for that property by the City. Move the library to the Bernal Property and use the old library building for the civic center. Anybody know why the city is purchasing this property? Perhaps they want to put high density houses on it?

Like this comment
Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Dec 10, 2016 at 8:24 pm

Get the Facts is a registered user.

They probably want to buy that property for Costco offices, since they pretty much have paid for Costco to put a store here.

Posted by Name hidden
a resident of Pleasanton Meadows

on Dec 11, 2016 at 10:21 am

Due to repeated violations of our Terms of Use, comments from this poster are automatically removed. Why?

Sorry, but further commenting on this topic has been closed.

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