Corona releases 2027 budget overview showing $58.9M in new CIP and $498.7M citywide plan

Finance Director Bruce Vultz presented the city’s proposed 2027 operating and capital budget at the May 20 council meeting, highlighting major capital projects, staffing counts and revenue drivers.

Key figures he cited included about $58.9 million in new capital improvement projects, $20.4 million in new operating-and-maintenance items, a proposed citywide budget near $498.7 million, and planned staffing levels of roughly 840 full-time equivalent positions plus about 97.8 part-time positions. The proposed budget incorporates a $2 million transfer from the general fund to a pension trust fund and a planned $4.3 million new debt-service payment tied to the downtown revitalization project.

Vultz said the five largest revenue categories account for about 87.5% of general-fund revenue, and that sales and property tax combined make up roughly 70% of the general fund (sales tax alone was cited at about 41%). He also noted a one-time $8.1 million current-year sale anomaly that, if removed, shows general-fund revenues rising roughly 4% for next year.

On expenditures, the finance director said public safety will remain the largest single category at about 45.6% of general-fund spending. Vultz explained several enterprise fund CIP items — especially water and sewer projects — are funded by bond proceeds that had already been received and therefore appear as fund-balance uses in the cash-based presentation.

Council members asked clarifying accounting questions about cash-flow presentation and fund-balance impacts; staff said a third budget presentation is scheduled for June 3 and formal adoption will be considered before the July 1 fiscal-year start.

The presentation did not include a formal adoption vote at this meeting; the council will consider the full budget in subsequent hearings.