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Early Direction for the Fiscal Year 2026-27 Budget <br />April 7, 2026 <br />Page 4 <br />5 <br />6 <br />9 <br />0 <br />For the City to realize revenue from the Related Bristol development in 2036, construction <br />would have had to begin in January 2026. <br />The Outlook’s graphical results show that expenditures continue to outpace revenues. <br />Beginning in FY 2026-27, this imbalance results in an estimated deficit and, absent <br />structural adjustments, is expected to persist. When the Measure X rate decreases in <br />2029, the deficit is expected to widen further, increasing long-term fiscal pressure on the <br />General Fund. <br />Recommendations from the Measure X Oversight Committee <br />Normally, this report would include budget recommendations from the Measure X Citizens <br />Oversight Committee. Due to a lack of a quorum precipitated by three (3) vacant seats, <br />the Committee’s December and March meetings were canceled, and the Committee has <br />been unable to meet and develop recommendations. <br />Balancing Strategies <br />Staff intends to propose a balanced budget for City Council consideration. To facilitate <br />discussion, staff has identified potential strategies, including expenditure adjustments and <br />revenue enhancements, to ensure recurring expenditures align with recurring revenues.