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Fiscal Year 2021-22 Budget Workshop Session <br />May 18, 2021 <br />Page 5 <br />1 <br />7 <br />3 <br />0 <br />Quantifiable future changes have been included. <br />o Revenue from the final jail module in FY22-23. <br />o Full revenue recovery from the pandemic in FY22-23. <br />o Payoff of Police Building Debt in 2024. <br />o Payoff of other minor debt obligations in 2025, 2026, and 2028. <br />o Reduction of Measure X rate in 2029. <br />Inflation applied to both recurring revenue and recurring expenditures, using the <br />California Department of Finance forecast for the Consumer Price Index. <br />In the short term, the City can continue to expect a small budget deficit of roughly 2-4% <br />annually. Actual revenues in excess of conservative estimates, an increased tax base <br />from new development, and spending less than the full amount of each adopted budget <br />could each contribute to offset the budget deficit. <br />Net Cost of City Jail <br />Based on questions from the City Council and the public, staff offers the following <br />information with regard to the net cost of the City’s Jail. <br />In millions FY21-22 Draft <br />Budget <br />With Revenue from Final <br />Jail Module <br />After Debt is Paid Off