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Page 2 of 9 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />The City Council requested two changes to the Recommended Budget: <br />1) Reduce the amount of funding allocated for the Economic Stability Reserve in the Recommended <br />Budget by $2 million (from $4.8 million in the Recommended Budget to $2.8 million in the Adopted <br />Budget) and redirect the $2 million to increase investments in the road repaving and rehabilitation <br />program by increasing the General Fund transfer to the CIP (from $15.8 million to $17.8 million). <br />2) Add a goal to the City Manager’s Office to further the City Council’s Housing priority by evaluating <br />opportunities to apply for Proposition 1 funding for permanent supportive housing in Redwood <br />City. The City Manager’s Office will report back to the City Council by November 30, 2025 to provide <br />an update on this goal. <br />The FY 2025-26 Adopted Budget also reflects several clean-up items to the FY 2025-26 Recommended <br />Budget, including: <br />Added the Port of Redwood City’s Accomplishments, Goals, and FY 2025-26 Budget <br />Corrected minor typographical errors identified in the Recommended Budget, including the total <br />General Fund revenues originally reflected in certain tables in the Recommended Budget <br />ANALYSIS <br />FY 2025-26 Adopted Budget at-a-Glance <br />The FY 2025-26 Adopted Budget includes $407.8 million in revenues for all funds and $396.8 million in <br />expenditures (before transfers in and out). The General Fund revenues total $206.9 million and <br />expenditures total $201.0 million. The General Fund fully funds the 15 percent reserve at $28.7 million and <br />includes the $2.8 million Economic Stability Reserve described above. <br />7.A. - Page 2 of 13 <br />420