Title
Public Hearing on Proposed FY 2025-26 City of Hercules Annual Budget Plan including the First Year of the Ten-Year 2025-2035 Capital Improvement Plan (CIP) Budget
RECOMMENDATION:
Open the Continued Public Hearing, receive a Staff Report, Take Public Testimony, Close the Public Hearing, and Adopt the following resolutions (Attachments 1-3):
1. Approving the FY 2025-26 City of Hercules Budget Plan which includes the First Year (2025-26 Fiscal Year) of the Ten-Year (2025-2035 Fiscal Years) Capital Improvement Plan (CIP) Budget and making certain designations and fund balance adjustments, approving annual contracts for services in total amount of $7,743,160.
2. Approving the FY 2025-26 Hercules Public Financing Authority Budget Plan Consisting of Debt Service in the amount of $2,023,258.
3. Establishing the Appropriations Limit for the FY 2025-26 in accordance with Proposition 111 and Article XIII B.