CC SR 20260616 02 - FY26-27 Budget Adoption (UPDATED 20260611)
PUBLIC HEARING - NON-ADJUDICATIVE
Date: June 16, 2026
Subject:
Consider adopting the Fiscal Year 2026-27 Budget for all City funds, the Five-Year Capital
Improvement Program, and budget for the Improvement Authorities.
Recommendation:
1) Adopt Resolution No. 2026-___, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES APPROVING A BUDGET APPROPRIATION AND ADOPTING THE OPERATING AND
CAPITAL IMPROVEMENT BUDGETS FOR FISCAL YEAR 2026-27; and,
2) Adopt Resolution No. IA 2026-___, A RESOLUTION OF THE RANCHO PALOS VERDES JOINT
POWERS IMPROVEMENT AUTHORITY ADOPTING THE OPERATING BUDGET FOR FISCAL YEAR
2026-2027.
1. Report of Notice Given: City Clerk Takaoka
2. Declare Public Hearing Open: Mayor Seo
3. Request for Staff Report: Mayor Seo
4. Staff Report & Recommendation: Robert Moya, Deputy Director of Finance
5. Council Questions of Staff (factual and without bias):
6. Public Testimony:
General Public 3 Minutes Each.
7. Council Questions of Public Testimony (factual and without bias):
8. Declare Hearing Closed/or Continue the Public Hearing to a later date: Mayor Seo
9. Council Deliberation:
The Council may ask staff to address questions raised by the testimony, or to clarify matters. Staff and/or Council may also answer
questions posed by speakers during their testimony. The Council will then debate and/or make motions on the matter.
10. Council Action:
The Council may: vote on the item; offer amendments or substitute motions to decide the matter; reopen the hearing for additional
testimony; continue the matter to a later date for a decision.
CITY COUNCIL MEETING DATE: 06/16/2026
AGENDA REPORT AGENDA HEADING: Public Hearing
AGENDA TITLE:
Consider adopting the Fiscal Year 2026-27 Budget for all City funds, the Five-Year Capital
Improvement Program, and budget for the Improvement Authorities.
RECOMMENDED COUNCIL ACTION:
(1) Adopt Resolution No. 2026-___, A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF RANCHO PALOS VERDES APPROVING A BUDGET
APPROPRIATION AND ADOPTING THE OPERATING AND CAPITAL
IMPROVEMENT BUDGETS FOR FISCAL YEAR 2026-27; and,
(2) Adopt Resolution No. IA 2026-___, A RESOLUTION OF THE RANCHO PALOS
VERDES JOINT POWERS IMPROVEMENT AUTHORITY ADOPTING THE
OPERATING BUDGET FOR FISCAL YEAR 2026-2027.
FISCAL IMPACT: The Citywide Fiscal Year (FY) 2026-27 Budget for all funds includes
total Revenues of $64.3 million, $10.3 million of Transfers -In, and
$12.9 million from fund balances. The Budget also includes
approximately $77.2 million in expenditures and $4.1 million in
annual Transfers-Out. The Budget includes one-time Transfers-Out
from the prior year and current unallocated fund balances, including
approximately $0.4 million to the Employee Pension Service Fund,
approximately $0.9 million to the Capital Infrastructure Projects (CIP)
Fund for the annual Ladera Linda Community Park loan payment,
approximately $2.4 million to the CIP Fund for landslide -related
projects funded from prior year unallocated balances, and an
additional $2.5 million transfer from available unallocated fund
balance to support ongoing landslide response and infrastructure
priorities within the CIP Fund.
For General Fund, the FY 2026-27 Operating Revenues are $42.5
million and $0.3 million in Transfers-In. The Budget also includes
$37.5 million in Operating Expenditures, and $9.9 million of
Transfers-Out ($3.8 million of annual transfers to various funds a nd
$6.2 million from prior year’s unallocated fund balance ). The total
annual and additional Transfers-Out to the CIP Fund is $9.2 million,
which meets City Council Reserve Policy and exceeds the projected
Transient Occupancy Tax (TOT) revenues of $6.7 million by
approximately 37%.
1
A summary of the projected fund balance for ALL funds is included
in Attachment C-1, FY 2026-27 Fund Balance Budget Summary and
CIP Projects. VR
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Robert Moya, Deputy Director of Finance RM
REVIEWED BY: Vina Ramos, Director of Finance VR
APPROVED BY: Ara Mihranian, AICP, City Manager
ATTACHED SUPPORTING DOCUMENTS:
A. Resolution No. 2026-___ (page A-1)
B. Resolution No. IA 2026-___ (page B-1)
C. FY 2026-27 Fund Balance Budget Summary and CIP Projects (linked)
D. June 2, 2026 City Council Staff Report (linked)
BACKGROUND:
The City Council is being presented this evening with the FY 2026-27 Budget, for all
funds, as a public hearing for adoption consideration. The required Public Notice was
published in the Palos Verdes Peninsula News on May 28 and June 4, 2026. In summary,
the City Council’s budget process consists of the following steps culminating in this
evening’s adoption consideration:
The FY 2026-27 Budget includes City Council direction provided on April 20, May 4, May
18, and June 2, 2026. At the preliminary budget meeting on June 2, the City Council
unanimously approved the budget recommendations with no further modifications or
changes. The comprehensive staff report for the FY 2026-27 Budget presented at the
June 2 meeting and the CIP project description are attached (Attachments D).
Additionally, detailed analyses and assumptions presented at the prior workshops are
incorporated by reference in the following staff report links:
City Council Goals
Workshop
February 23
Budget Workshops
April 20 (GF)
May 4 (CIP)
May 18 (CIP)
Preliminary Budget
June 2
Budget Adoption
June 16
2
• February 23, 2026 – City Council Goal Setting Workshop
• April 20, 2026 – General Fund Budget Workshop
• May 4, 2026 – CIP Budget Workshop
• May 18, 2026 – CIP Budget Workshop 2
• June 2, 2026 – Preliminary Budget
DISCUSSION:
FY 2026-27 Budget Highlights
The FY 2026-27 Budget reflects the City Council's direction provided throughout the
budget process, including the Goal Setting Workshop and subsequent budget workshops
conducted between February and May 2026. The proposed budget totals approximately
$64.3 million in total revenues and $77.2 million in total expenditures across all City funds.
General Fund revenues account for approximately 66% of total revenues, while General
Fund expenditures represent approximately 48% of total budgeted expenditures. The
difference between total revenues and expenditures is primarily attributable to the use of
previously appropriated fund balances, funding from restricted and grant funding sources,
and General Fund Transfers-Out to continue supporting capital improvement projects. As
shown in Charts 1 and 2, the General Fund remains the City's primary operating fund,
accounting for the largest share of both revenues and expenditures citywide.
Chart 1: Revenues – All Funds
Continued on Next Page
$42.5
66%
$1.7
3%
$19.8
31%
$0.3
0%General Fund
CIP
Special Revenue
Funds
Other Funds
in millions*
$64.3M
3
Chart 2: Expenditures – All Funds
*$12.9M is primarily attributable to the use of previously appropriated fund
balances, funding from restricted and grant funding sources, and General Fund
Transfers-Out to CIP Fund to continue supporting capital improvement projects.
General Fund Revenue
General Fund revenues and transfers-in are projected at approximately $42.8 million, with
Property Tax remaining the largest revenue source at approximately $19.0 million,
followed by Transient Occupancy Tax (TOT) at approximately $6.9 million. Together,
these two revenues account for approximately 60% of General Fund funding. Chart 3
illustrates the amounts and allocations of the major revenue sources in the General Fund.
Continued on Next Page
$37.5
48%
$12.2
16%
$26.2
34%
$1.3
2%
General Fund
CIP Fund
Special Revenue
Funds
Other Funds
in millions*
$77.2$77.2M
in millions*
4
Chart 3: FY 2026-27 General Fund Revenues by Sources
FY 2026-27 General Fund Expenditures
General Fund expenditures are projected at approximately $37.5 million and continue to
prioritize the services identified by the City Council and the community. Public Safety
represents the largest departmental expenditure category, followed by Public Work s,
Administration, and Recreation and Parks. Personnel costs, operations and maintenance
expenditures, and the Los Angeles County Sheriff's contract remain the City's primary
operating cost drivers. Chart 4 on the nest page shows the General Fund expenditures
by department and their respective contribution in percentage to the City’s overall total
expenditures.
Continued on Next Page
$42.5M
in millions*
5
Chart 6: FY 2026-27 General Fund Expenditures – by Department
The FY 2026-27 Budget maintains compliance with City Council Policies No. 41 and No.
45 by preserving reserve levels and maintaining a structurally balanced operating budget.
Following projected revenues, expenditures, and approved transfers, the General Fund
is projected to end FY 2026-27 with approximately $35.0 million in total fund balance,
including approximately $10.2 million in unallocated fund balance after satisfaction of
reserve policy requirements. A calculation of the Draft FY 2026-27 Fund Balance is
illustrated in Table 1 below.
Continued on Next Page
$37.5M
in millions*
6
Table 1: FY 2026-27 General Fund – Projected Fund Balance Summary
Capital Improvement Program
The FY 2026-27 CIP totals approximately $30.9 million and includes 19 projects focused
on roadway improvements, landslide stabilization efforts, sewer and storm drain
infrastructure, facility improvements, and parks and recreation amenities as illustrated in
Chart 7 below. The CIP continues the City's pay-as-you-go approach to infrastructure
investment through a combination of special revenue funds, grants, and General Fund
transfers.
Chart 7: FY 2026-27 Capital Improvement Program (By Funds and Category)
General Fund FY 2025-26
Revised Budget
FY 2025-26
Year-End
Estimates
FY 2026-27
Draft Budget
Beginning Fund Balance 33,270,667$ 33,270,667$ 33,422,365$
Add: Revenues 41,562,700 42,462,048 42,502,450 939,750 2.3%
Add: Transfers-In 320,000 320,000 320,000 - 0.0%
Total Revenues and Transfers 41,882,700 42,782,048 42,822,450 939,750 2.2%
Less: Expenditures (38,870,199) (36,267,200) (37,462,360) (1,407,839)-3.6%
Less: Transfers to CIP (TOT) (3,374,150) (3,374,150) (3,425,800) 51,650 1.5%
Less: Other Transfers-Out (230,000) (230,000) (335,000) 105,000 45.7%
Total Expenditures and Transfers (42,474,349) (39,871,350) (41,223,160) (1,251,189)-2.9%
Projected Ending Fund Balance 06/30/2026 32,679,018 36,181,365 35,021,655 2,342,637 7.2%
City Council Policy No. 41 Reserve Policy
Less: Additional Transfers - CIP Ladera (PY Unallocated) (889,500) (889,500) (889,500) - 0.0%
Less: Additional Transfers - CIP Landslide (PY Unallocated) (1,469,500) (1,469,500) (2,384,700) 915,200 62.3%
Less: Additional Transfers - CIP Landslide (Unallocated) - - (2,500,000)
Less: Transfers to Pension (PY Unallocated) (400,000) (400,000) (400,000) - 0.0%
50% Reserve Policy (17,000,000) (17,000,000) (18,607,200) 1,607,200 9.5%
Projected Unallocated Fund Balance 12,920,018$ 16,422,365$ 10,240,255$ (2,679,763)$ -21%
Change
Increase/(Decrease)
from Revised Budget
$11.0
35%
$20.0
65%
CIP Fund
Special
Revenue Funds
$30.9M
in millions*
7
CONCLUSION:
Staff recommend that the City Council consider adopting the attached resolutions
(Attachments A and B) thereby approving and adopting the FY 2026-27 Budgets for the
City and the Improvement Authorities.
A summary of the projected fund balance for ALL funds is included in Attachment C-1,
FY 2026-27 Fund Balance Budget Summary and CIP Projects.
ALTERNATIVES:
In addition to the Staff recommendation, the following alternative actions are available for
the City Council’s consideration:
1) Do not adopt the FY 2026-27 Budget for all City funds, the Five-year CIP, and
budget for the Improvement Authorities.
2) Identify modifications to the FY2026-27 Budget.
3) Take other action, as deemed appropriate.
47%
$14.4 34%
$10.6
10%
$3.0 6%
$1.8 2%
$0.7
2%
$0.5
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
Right-of-Way Landslide Sewer & Storm
Drain
Abalone Cove
Sewer Repairs
Building Parks/Open
Space/Rec
in millions*
8
RESOLUTION NO. 2026-___
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF RANCHO PALOS VERDES
APPROVING A BUDGET APPROPRIATION AND
ADOPTING THE OPERATING AND CAPITAL
IMPROVEMENT BUDGET FOR FISCAL YEAR
2026-2027.
WHEREAS, on June 16, 2026, the City Council opened a duly published Public
Hearing to receive public input regarding the budget for Fiscal Year (FY) 2026-27.
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF
RANCHO PALOS VERDES:
Section 1: That a revenue and expenditure/expense budget is hereby adopted.
The adopted budget, by fund, is per Exhibit A with a total Estimated Ending Fund Balance
of $58,188,786 for all City funds (net of City Council Policy Reserves) as of June 30, 2027,
exclusive of the City’s Improvement Authorities.
A. The City Manager is authorized to transfer certain Budget Appropriation
Balances within functions and/or programs when deemed necessary to do so in
accordance with Chapter 3.32 of the Rancho Palos Verdes Municipal Code.
B. City Council approval will be required for any significant changes involving
increased or decreased service levels.
C. The Director of Finance shall be responsible for constant monitoring of the
budget and shall establish and implement appropriate control mechanisms necessary for
said purpose, after approval by the City Manager.
Section 2: The FY 2026-27 Revenue Budget is hereby adopted, establishing the
following Governmental and Internal Service Fund contribution levels:
A-1
Resolution No. 2026-__
Page 2 of 6
101 - GENERAL FUND 42,502,450$
330 - CIP 1,704,591
202 - GAS TAX 1,280,988
203 - 1972 ACT LANDSCAPE/LIGHT 414,460
204 - GAS TAX-SB1 1,276,301
209 - EL PRADO LIGHTING DISTRICT 5,462
211 - 1911 ACT STREET LIGHTING 1,009,883
213 - WASTE REDUCTION 220,990
214 - AIR QUALITY MANAGEMENT 44,841
215 - PROPOSITION C 903,166
216 - PROPOSITION A 1,166,195
217 - PUBLIC SAFETY GRANTS 242,987
220 - MEASURE R 783,774
221 - MEASURE M 4,061,802
222 - HABITAT RESTORATION 2,060
223 - SUBREGION ONE MAINTENANCE 26,710
224 - MEASURE A MAINTENANCE 580,515
225 - ABALONE COVE SEWER DISTRICT 65,534
228 - DONOR RESTRICTED CONTRIBUTION 57,775
310 - CDBG 230,000
331 - FEDERAL GRANTS 3,934,715
332 - STATE GRANTS 1,795,378
334 - QUIMBY PARK DEVELOPMENT 2,163
336 - LOW-MODERATE INCOME HOUSING 54,631
337 - AFFORDABLE HOUSING PROJECTS 32,136
338 - ENVIRONMENTAL EXCISE TAX 7,940
340 - BICYCLE/PEDESTRIAN ACCESS 174,248
343 - MEASURE W 1,459,122
681 - EQUIPMENT REPLACEMENT 197,700
682 - EMPLOYEE PENSION PLAN 40,891
TOTAL GOVERNMENTAL FUND REVENUES 64,279,408$
A-2
Resolution No. 2026-__
Page 3 of 6
Section 3: The FY 2026-27 Budget is hereby adopted, establishing the following
transfers into the following funds:
*(1) Excludes $15,000 transfers-in from the General Fund to the
Improvement Authority – Portuguese Bend; (2) CIP transfers-in
includes $889,500 for Ladera Linda payment, $3,425,800 to CIP Fund,
and $4,884,700 as an additional transfer to CIP Fund from unallocated
General Fund balance per City Council Reserve Policy, and; (3)
Includes $400,000 to Employee Pension per Pension Guidelines from
the unallocated General Fund balance.
Section 4: The FY 2026-27 Budget is hereby adopted, establishing the following
transfers from the following funds:
*(1) Includes $15,000 transfers-out from the General Fund to the
Improvement Authority – Portuguese Bend; (2) General Fund
transfers-out include $889,500 for Ladera Linda payment, $335,000 to
various funds, $3,425,800 to CIP Fund, and $4,884,700 as an
additional transfer to CIP Fund from unallocated General Fund balance
per City Council Reserve Policy, and; (3) Includes $400,000 to
Employee Pension per Pension Guidelines from the unallocated
General Fund balance.
Section 5: The FY 2026-27 Operating and Capital Improvement Budget Programs
are hereby adopted, establishing the following allocations.
101 - GENERAL FUND 320,000$
330 - CIP 9,200,000
222 - HABITAT RESTORATION 215,000
223 - SUBREGION ONE MAINTENANCE 55,000
225 - ABALONE COVE SEWER DISTRICT 50,000
682 - EMPLOYEE PENSION PLAN 400,000
*TOTAL OPERATING TRANSFERS IN 10,240,000$
101 - GENERAL FUND 9,935,000$
217 - PUBLIC SAFETY GRANTS 240,000
224 - MEASURE A MAINTENANCE 80,000
*TOTAL OPERATING TRANSFERS OUT 10,255,000$
A-3
Resolution No. 2026-__
Page 4 of 6
1110 - CITY COUNCIL 97,100$
1210 - LEGAL SERVICES - CITY ADMIN 1,248,800
1310 - CITY CLERK ADMINISTRATION 657,800
1311 - CITY CLERK ELECTION 174,500
1410 - CITY MANAGER 1,309,000
1420 - COMMUNITY OUTREACH 115,700
1430 - EMERGENCY PREPAREDNESS 274,600
1440 - RPV TV 271,600
1450 - HUMAN RESOURCES 559,400
1470 - INFORMATION TECHNOLOGY - DATA 1,169,600
1480 - INFORMATION TECHNOLOGY - VOICE 115,000
2110 - FINANCE ADMINISTRATION 1,715,600
2999 - NON-DEPARTMENTAL 2,448,200
3110 - PUBLIC WORKS ADMINISTRATION 3,713,300
3120 - TRAFFIC MANAGEMENT 267,000
3130 - STORM WATER QUALITY 121,500
3140 - BUILDING MAINTENANCE 611,800
3150 - TRAILS & OPEN SPACE MAINT 1,158,100
3151 - PARKS MAINTENANCE 932,500
3160 - SEWER MAINTENANCE 100,000
3180 - STREET LANDSCAPE MAINTENANCE 573,400
3230 - FUEL MODIFICATION 320,000
3240 - VEHICLES MAINTENANCE 125,000
4110 - COMMUNITY DEVELOPMENT ADMIN 924,900
4120 - PLANNING 1,360,800
4130 - BUILDING & SAFETY 1,363,000
4140 - CODE ENFORCEMENT 179,600
4150 - VIEW RESTORATION 230,900
4170 - GEOLOGY 170,000
4180 - ANIMAL CONTROL 190,000
4190 - CASP 9,000
5110 - RECREATION ADMINISTRATION 1,865,400
5121 - EASTVIEW PARK 124,950
5122 - OPEN SPACE MANAGEMENT 610,450
5123 - PRESERVE PARK RANGERS 441,000
5130 - FRED HESSE JR. PARK 294,200
5131 - CONTRACT CLASSES 145,800
5140 - ROBERT E. RYAN PARK 130,200
5150 - LADERA LINDA COMMUNITY CENTER 389,500
5160 - ABALONE COVE SHORELINE PARK 3,000
5170 - SPECIAL EVENTS & PROGRAMS 312,000
5171 - CITY RUN SPORTS & ACTIVITIES 4,000
5172 - VOLUNTEER PROGRAM 5,000
5180 - POINT VICENTE INTER. CENTER 587,200
5190 - REACH 162,800
6110 - SHERIFF CONTRACT 8,896,500
6111 - PUBLIC SAFETY DIVISION 982,660
SUBTOTAL GENERAL FUND EXPENDITURES 37,462,360$
A-4
Resolution No. 2026-__
Page 5 of 6
330 - CIP 12,164,620$
202 - GAS TAX 2,543,570
203 - 1972 ACT LANDSCAPE/LIGHT 413,430
204 - GAS TAX-SB1 4,172,105
211 - 1911 ACT STREET LIGHTING 581,100
213 - WASTE REDUCTION 347,400
215 - PROPOSITION C 965,000
216 - PROPOSITION A 995,180
220 - MEASURE R 3,595,000
221 - MEASURE M 4,638,500
222 - HABITAT RESTORATION 210,000
223 - SUBREGION ONE MAINTENANCE 141,400
224 - MEASURE A MAINTENANCE 500,000
225 - ABALONE COVE SEWER DISTRICT 135,300
228 - DONOR RESTRICTED CONTRIBUTION 21,000
310 - CDBG 230,000
331 - FEDERAL GRANTS 3,934,715
332 - STATE GRANTS 396,500
340 - BICYCLE/PEDESTRIAN ACCESS 140,000
343 - MEASURE W 2,221,100
SUBTOTAL OTHER FUNDS EXPENDITURES 38,345,920$
681 - EQUIPMENT REPLACEMENT 401,922$
682 - EMPLOYEE PENSION PLAN 881,000
SUBTOTAL INTERNAL SERVICE FUNDS EXPENDITURES 1,282,922$
A-5
Resolution No. 2026-__
Page 6 of 6
PASSED, APPROVED and ADOPTED the 16th day of June 2026.
__________________________
ATTEST: MAYOR
_____________________
CITY CLERK
State of California )
County of Los Angeles )
City of Rancho Palos Verdes )
I, TERESA TAKAOKA, City Clerk of The City of Rancho Palos Verdes, hereby certify that
the above Resolution No. 2026-__ was duly and regularly passed and adopted by the
said City Council at regular meeting thereof held on June 16, 2026.
__________________________
CITY CLERK
A-6
| Draft Budget 2026-2027 City of Rancho Palos Verdes FY 2026-27 Fund Summary 61
GE
N
E
R
A
L
F
U
N
D
S
U
M
M
A
R
Y
CI
T
Y
C
O
U
N
C
I
L
LE
G
A
L
S
E
R
V
I
C
E
S
CI
T
Y
F
U
N
D
S
S
U
M
M
A
R
Y
BU
D
G
E
T
O
V
E
R
V
I
E
W
City of Rancho Palos Verdes FY 2026-27 Fund Summary
Fund Balance
6/30/2026
FY2026-27 Estimated
Resources
FY2026-27 Estimated
Appropriations Fund Balance
6/30/2027Fund Revenues Transfers In Expenditures Transfers Out
General Fund Balance 36,181,365 42,502,450 320,000 37,462,360 3,760,800 35,021,655
FY 2025-26 Unallocated & Unallocated
Transfers 2,759,000 - - - 6,174,200 6,174,200
Restricted Amount (Policy Reserve) 17,000,000 - - - - 18,607,200
General Fund Unallocated Balance 16,422,365 42,502,450 320,000 37,462,360 9,935,000 10,240,255
Restricted by Council Action
CIP Fund Balance 19,489,328 1,704,591 9,200,000 12,164,620 - 18,229,299
Restricted Amount (Policy Reserve) 5,000,000 - - - - 5,000,000
CIP Unallocated Balance 14,489,328 1,704,591 9,200,000 12,164,620 - 13,229,299
Equipment Replacement Fund 2,911,109 197,700 - 401,922 - 2,706,887
Restricted Amount (Policy Reserve) 2,212,400 - - - - 2,212,400
Equip. Replacement Unallocated Balance 698,709 197,700 - 401,922 - 494,487
Employee Pension Plan 922,266 40,891 400,000 881,000 - 482,157
Subtotal Restricted By Council Action 16,110,303 1,943,182 9,600,000 13,447,542 - 14,205,943
Restricted By Law Or External Agencies
Gas Tax 1,716,001 1,280,988 - 2,543,570 - 453,419
1972 Act 21,585 414,460 - 413,430 - 22,615
Gas Tax SB-1 3,093,083 1,276,301 - 4,172,105 - 197,279
El Prado Lighting 61,600 5,462 - - - 67,062
1911 Act 3,011,530 1,009,883 - 581,100 - 3,440,313
Waste Reduction 310,139 220,990 - 347,400 - 183,729
Air Quality Management 184,995 44,841 - - - 229,836
Proposition C 70,360 903,166 - 965,000 - 8,526
Proposition A 3,049,315 1,166,195 - 995,180 - 3,220,330
Public Safety Grants 42,154 242,987 - - 240,000 45,141
Measure R 2,811,296 783,774 - 3,595,000 - 70
Measure M 1,215,152 4,061,802 - 4,638,500 - 638,454
Habitat Restoration 401 2,060 215,000 210,000 - 7,461
Subregion 1 Maintenance 729,134 26,710 55,000 141,400 - 669,444
Measure A 68,697 580,515 - 500,000 80,000 69,212
Abalone Cove Sewer Maintenance 142,036 65,534 50,000 135,300 - 122,270
Donor Restricted Contributions 1,039,772 57,775 - 21,000 - 1,076,547
CDBG 27,146 230,000 - 230,000 - 27,146
Federal Grants (74,063) 3,934,715 - 3,934,715 - (74,063)
State Grants (156,400) 1,795,378 - 396,500 - 1,242,478
ARPA 407,813 - - - - 407,813
Quimby 65,953 2,163 - - - 68,116
Low-Mod Income Housing 575,518 54,631 - - - 630,149
Affordable Housing In Lieu 996,038 32,136 - - - 1,028,174
Environmental Excise Tax (EET) 118,976 7,940 - - - 126,916
Bikeways - 174,248 - 140,000 - 34,248
Measure W 1,954,681 1,459,122 - 2,221,100 - 1,192,703
Subtotal Restricted By Law Or External
Agencies 21,482,912 19,833,776 320,000 26,181,300 320,000 15,135,388
Total Governmental Funds 51,201,545 64,279,408 10,240,000 77,091,202 10,255,000 58,188,786
Improvement Authorities
Improv Auth - Portuguese Bend 131,824 3,502 15,000 51,000 - 99,326
Improv Auth - Abalone Cove 1,196,248 22,800 - 23,000 - 1,196,048
Subtotal For Improvement Authorities 1,328,072 26,302 15,000 74,000 - 1,295,374
Grand Total of All Funds 52,357,062 64,305,710 10,255,000 77,165,202 10,255,000 59,484,160
A-7
RESOLUTION NO. IA 2026-__
A RESOLUTION OF THE RANCHO PALOS
VERDES JOINT POWERS IMPROVEMENT
AUTHORITY ADOPTING THE OPERATING
BUDGET FOR FISCAL YEAR 2026-27
WHEREAS, the Commission of the Rancho Palos Verdes Joint Powers
Improvement Authority (Authority) desires to adopt the following resolution adopting the
operating budget for Fiscal Year (FY) 2026-27; and
WHEREAS, the Rancho Palos Verdes Joint Powers Improvement Authority will
have an estimated $1,295,374 in available funds through June 30, 2027.
NOW, THEREFORE, AND RESOLVED THAT THE COMMISSION OF THE
RANCHO PALOS VERDES JOINT POWERS IMPROVEMENT AUTHORITY DOES
HEREBY ADOPT THE FOLLOWING FY 2026-27 OPERATING AND CAPITAL BUDGET.
Section 1: The FY 2026-27 Revenue Budget (inclusive of transfers from the City's
General Fund) is hereby adopted, establishing the following revenue levels:
Interest Earnings - Portuguese Bend $ 3,502
Interest Earnings - Abalone Cove 22,800
Transfer In – Portuguese Bend 15,000
Transfer In – Abalone Cove 0
TOTAL REVENUES $ 41,302
Section 2: An operating budget for FY 2026-27 is hereby adopted as contained in
the Annual Budget of the Rancho Palos Verdes Joint Powers Improvement Authority
attached hereto and incorporated and referenced as part of this resolution. The following
expenditure levels are hereby established:
Maintenance - Portuguese Bend $ 51,000
Maintenance - Abalone Cove 23,000
TOTAL OPERATING EXPENDITURES $ 74,000
Section 3: Upon adoption of said Budget, the Authority may revise and/or update
said Budget in part or in its entirety, depending on the Authority's fiscal resources,
circumstances, and needs.
Section 4: The Chief Administrative Officer of the Rancho Palos Verdes Joint
Powers Improvement Authority shall be responsible for administration and execution of
B-1
Resolution No. IA 2026-__
Page 2 of 2
said Budget.
PASSED, APPROVED, and ADOPTED the 16th day of June 2026.
__________________________
AUTHORITY CHAIRPERSON
ATTEST:
______________________
AUTHORITY SECRETARY
State of California )
County of Los Angeles )
City of Rancho Palos Verdes )
I, Teresa Takaoka, Authority Secretary of the Rancho Palos Verdes Joint Powers
Improvement Authority, hereby certify that the above Resolution No. IA 2025-__ was duly
and regularly passed and adopted by the said Joint Powers Improvement Authority at
regular meeting thereof held on June 16, 2026.
__________________________
AUTHORITY SECRETARY
B-2