At the November 3 meeting, the City Council voted to reinvest $2.6 million from Fiscal Year 2024-2025 into long-term capital and maintenance needs, augmenting dedicated funds that have been significantly drawn down over the past two years as the City undertakes an unprecedented number of concurrent facility, park, and infrastructure improvements.
The action followed a review of FY2024-25 financial results by Finance Director Kiran Bawa. At year-end, City revenues were 2% above budget and expenditures 3% below budget, leaving a General Fund balance of $9.9 million.
Consistent with City policy, $7.3 million will remain in reserve. The remaining $2.6 million will be transferred into special funds that support the City’s ongoing capital, facility, and infrastructure needs:
● $1.5 million to the Facilities Capital Fund, which finances major building projects and renovations
● $850,000 to the Equipment Replacement Fund for future vehicle and equipment purchases
● $250,000 to the Facilities Maintenance Fund for preventative maintenance and facility preservation
These transfers reflect the City’s ongoing commitments to creating healthy, vibrant public spaces and addressing aging infrastructure, while continuing to budget conservatively and maintain a healthy reserve.
More capital projects are underway throughout Piedmont now than at any point in memory. In addition to the construction of the new community pool and 9-1-1 dispatch center, two of the largest, most complex undertakings in the City’s history.
Ten additional major projects are currently under construction or in design, including: Linda Beach Tot Lot renovation, City street resurfacing project, Storm drain upgrades, Installation of 4 public EV charging stations in the Civic Center, Truss-pipe sewer repair, Sidney & Irene Dearing Memorial, Piedmont Park swings replacement, and Two sewer-line upgrade projects.
Pedestrian safety upgrades completed in the past year include: bicycle and pedestrian safety upgrades on Grand Avenue, Piedmont’s first green infrastructure bioswale at Grand and Fairview, replacement of an aging pedestrian bridge in Piedmont Park, expanding the batting cages at Coaches Field, pathway repairs throughout Piedmont Park, and renovation of the Linda Beach pickleball courts
Piedmont’s financial policies require that the City maintain a General Fund reserve equal to 18% of annual operating expenses. After these capital transfers, the City’s reserve stands at 19%, even as staff deliver one of the most active capital improvement programs in City history.
